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A New Era of Congressional Budgeting

  • Paul Winfree
Chapter

Abstract

Voters and politicians in the past have demanded some level of control over the deficit when it reaches a high-water mark if, for no other reason, to achieve some level of symbolic victory over the federal debt. However, the last forty years of history demonstrates how difficult it has become to reduce the deficit even during periods of economic growth. Presidents have commonly sought to stimulate the economy while the economy was growing only to be pulled back by a Congress controlled by the opposing party. However, when both Congress and the White House are controlled by the same party, fiscal tightening is mostly shelved. The Clinton era is the only recent connection with the neo-Keynesian budget policies of the post-World War II period.

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  • Paul Winfree
    • 1
  1. 1.Heritage FoundationWashington, DCUSA

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