Fiscal Slack (Part 2 of 2)

Research Report

Fiscal Slack (Part 2 of 2)

Part Two: Restoring Control to Future Voters
August 28, 2000

Abstract

Senior Fellow Eugene Steuerle examines how the nation turned from a period of significant fiscal slack to one in which concern over deficits ruled federal policymaking for more than two decades, and why presidential candidates today feel so constrained from proposing major policy shifts despite large temporary surpluses. He concludes that lawmakers have essentially squandered more than all of the growth in revenues due to the economic good times by building more and more automatic growth into public programs.

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