"'A Fiscal Cliff' is precisely the right book for perilous fiscal times. Giants in economics and public policy offer a spirited defense of fiscal rules critically needed to protect our children and grandchildren from a bleak future." -Richard K. Vedder, Distinguished Professor of Economics Emeritus, Ohio University/p> The unsustainable, and still rapidly growing, U.S. federal government debt is a classic case of ‘'in denial.” Indeed, we are no closer to a solution to the debt crisis than we were ten years ago when the Simpson-Bowles Commission issued a report with recommendations to address the nation's debt crisis. The bipartisan Commission fell short of the supermajority vote required to submit their recommendations to Congress. President Trump declared a debt crisis, but didn't act like it. Various commissions and think tanks have made numerous recommendations. In 2019, a Congressional Committee was appointed to recommend budget process reforms, but that Committee could not agree on any recommendations to submit to Congress. While the dominant sentiment is that maybe if we ignore it, it will just go away, the debt crisis will not just vanish. A Fiscal Cliff: New Perspectives on the U.S. Debt Crisis is a timely addition to a critical policy discussion.

Many American cities are under fiscal assault. Rising pension costs, diminishing tax bases, and middle class flight have created a fiscal cliff for many American cities. Many cities have already become dysfunctional and unable to meet their basic responsibilities of providing adequate public safety, housing, education opportunities, and health care to its citizenry. Worst yet, due to middle class flight and the corresponding flight of jobs, the citizenry in these cities have a greater and greater concentration of poverty. These “declining” cities are less able to provide basic services to a citizenry which is in greater need of those services. The bankruptcy filing of Detroit is only the tip of the iceberg. Unless solutions are identified and enacted quickly, many more American cities will face Detroit's fate. The Fiscal Cliff describes the intricacies of the fiscal problems encountered by many American cities and identifies solutions which address these issues. Mayors of these declining cities continue to grope for idyllic and quick fix solutions to their declining tax base such as casinos or convention centers. However, the solutions to these vexing problems must be predicated on a correct understanding of the problem. Declining cities have undergone decades of structural change to its population and economic base. The Fiscal Cliff proposes real solutions which acknowledge these structural changes. The Fiscal Cliff is a worthwhile read for anyone interested in social inequality, urban planning, or urban politics..The writing style is not academic but one which many readers can easily relate to (i.e Jane Jacobs meets Malcolm Gladwell). Over 13,000,000 people live in declining American cities. If the municipalities these people live in cannot provide them with basic public services such as heath care, education, public safety or decent housing, it should be a concern for every American.

Based on 18 months of reporting, Woodward's 17th book is an intimate, documented examination of how President Obama and the highest profile Republican and Democratic leaders in the United States Congress attempted to restore the American economy and improve the federal government's fiscal condition over three and one half years. Drawn from memos, contemporaneous meeting notes, emails and in-depth interviews with the central players, THE PRICE OF POLITICS addresses the key issue of the presidential and congressional campaigns: the condition of the American economy and how and why we got there. Providing verbatim, day-by-day, even hour-by-hour accounts, the book shows what really happened, what drove the debates, negotiations and struggles that define, and will continue to define, the American future.

Keeping the economy strong will require addressing two distinct but related problems. Steadily rising federal debt makes it harder to grow our economy, boost our living standards, respond to wars or recessions, address social needs, and maintain our role as a global leader. At the same time, we have let critical investments lag and left many people behind even as overall prosperity has grown. In Fiscal Therapy, William Gale, a leading authority on how federal tax and budget policy affects the economy, provides a trenchant discussion of the challenges posed by the imbalances between spending and revenue. America is facing a gradual decline as debt accumulates and delay raises the costs of action. But there is hope: fiscal responsibility aligns with both conservative and liberal goals and citizens of all stripes can support the notion of making life better for our children and grandchildren. Gale provides a plan to make the economy and nation stronger, one that controls entitlement spending but preserves and enhances their anti-poverty and social insurance roles, increases public investments on human and physical capital, and raises and reforms taxes to pay for government services in a fair and efficient way. What is needed, he argues, is to balance today's needs against tomorrow's obligations. We face significant fiscal challenges but, if we are wise enough to seize our opportunities, we can strengthen our economy, increase opportunity, reduce inequality, and build better lives for our children and grandchildren. We do not have to kill popular programs or starve government. Indeed, one main goal of fiscal reform is to maintain the vital functions that government provides. We need to act responsibly, pay for the government we want, and shape that government in ways that serve us best.

Presents a narrative analysis of the federal budget that reveals how funds were actually spent in 2011, evaluating the roles of such contributors as Jacob Lew, Douglas Elmendorf, and Pete Peterson.

The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

A unique insight into the interaction between the state, financiers and entrepreneurs in the modern innovation economy.