Index

Page numbers in italics refer to figures.

AccuWeather, 4.1, 4.2

Acemoglu, Daron

Adams, Gordon, nts.1, nts.2, nts.3

Adams, Henry

Adams, John

adjusted gross income

Admane, Sonal

Admati, Anat R.

administrative costs, 4.1, 6.1, 7.1

Affordable Care Act (2010), 4.1, 4.2, 7.1, 7.2, nts.1, nts.2, nts.3

Afghanistan War, itr.1, 3.1, 4.1, 4.2, 5.1, 5.2, 7.1, bm1.1, app.1, nts.1, nts.2

aging population, itr.1, itr.2, 3.1, 3.2, 4.1, 4.2, 4.3, 4.4, 4.5, 4.6, 5.1, 6.1, 7.1

Agricultural Adjustment Act (1938)

agriculture, 1.1, 1.2, 1.3, 2.1, 3.1, 4.1, 6.1, 7.1, 7.2, 7.3, 7.4, nts.1, nts.2

Agriculture Department, U.S.

Ahmad, Q. K., nts.1, nts.2

aircraft carriers, 7.1, 7.2

Air Force Reserve, U.S.

air pollution, 6.1, 6.2, 7.1, 7.2, 7.3, bm1.1

airports, 4.1, 7.1

Alaska, 3.1, nts.1

alcohol, 1.1, 1.2, 1.3, 4.1, nts.1

Alesina, Alberto

Alexandria, Virg.

alternative energy, 6.1, 7.1, 7.2, 7.3, nts.1

alternative minimum tax (AMT), 3.1, 4.1, 7.1, app.1, app.2, nts.1, nts.2, nts.3, nts.4, nts.5

Altshuler, Rosanne

Amar, Akhil Reed

Ambrose, Douglas

American Enterprise Institute

American National Election Studies

American Recovery and Reinvestment Act (ARRA) (2009), 3.1, nts.1

Americans for Tax Reform (ATR), 3.1, 3.2, 3.3, 3.4

Americans with Disabilities Act (1990)

American Target Advertising

Anderson, Gerard F., nts.1, nts.2, nts.3

Ariely, Dan, 6.1, nts.1

Arkin, William M.

Armey, Dick, 3.1, 3.2, 3.3, 3.4

Armstrong, Philip

Arnell, N. W., nts.1, nts.2

Articles of Agreement

Articles of Confederation

Asia, 2.1, 7.1

Asian financial crisis (1997)

Åslund, Anders

assets, 1.1, 2.1, 2.2, 2.3, 2.4, 2.5, 2.6, 3.1, 5.1, 5.2, 6.1, 7.1, nts.1, nts.2, nts.3, nts.4, nts.5

asymmetric risk

ATMs

Auerbach, Alan

Auerbach, Alan J., nts.1, nts.2, nts.3

Auffhammer, Maximilian

Australia

Auten, Gerald

auto accidents, 6.1, 7.1, nts.1

automatic spending cuts

aviation security, 4.1, 7.1

avoidance, tax, 4.1, 4.2, 4.3, 6.1, 6.2, 7.1, 7.2, nts.1, nts.2

baby-boom generation, itr.1, itr.2, 3.1, 3.2, 6.1, 7.1

Bagehot, Walter, 2.1, nts.1

Bailey, F. Amos

bailouts, 3.1, 3.2, 3.3, 7.1

Bank of the United States, 1.1, 1.2, nts.1

bankruptcies, 3.1, 5.1, 5.2, 7.1, nts.1, nts.2

banks:

assets of, 1.1, 2.1, 2.2, 2.3, 3.1, 5.1, nts.1, nts.2

bailouts of, 3.1, 3.2, 3.3, 7.1, 7.2

central, 1.1, 1.2, 2.1, 2.2, 2.3, 2.4, 2.5, 3.1, 5.1, nts.1, nts.2, nts.3; see also Federal Reserve System

commercial, 2.1, 3.1

deposits in, 2.1, 2.2, 2.3

establishment of, 1.1, 1.2, 1.3, 2.1, nts.1, nts.2

gold reserves of

Irish, 5.1, 5.2

loans by, itr.1, 1.1, 3.1, 5.1

mega-

notes issued by, 2.1, 2.2, nts.1, nts.2, nts.3

regulation of, 5.1, 7.1, bm1.1

runs on, 2.1, 2.2, 2.3, 2.4

state and local

Barber, Tony

Barro, Robert J., 5.1, nts.1

Bartlett, Bruce, 4.1, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6

baseline projections, 4.1, app.1, nts.1, nts.2, nts.3, nts.4

Benson, Pam, nts.1, nts.2

Berlin Airlift (1948–49)

Bermuda

Bernanke, Ben S., nts.1, nts.2, nts.3

bills of exchange, 2.1, nts.1

Bilmes, Linda J.

bimetallism, 2.1, nts.1, nts.2

biofuels, 6.1, 7.1

Bipartisan Policy Center, 7.1, nts.1

birthrates

Bladensburg, Battle of

Boehner, John, 3.1, 3.2, 5.1, 5.2, 6.1, nts.1, nts.2

Bolstad, Erika

“bond drives,” 1.1, 1.2

“bond market vigilantes,”

bonds:

corporate

government, itr.1, itr.2, 1.1, 1.2, 1.3, 2.1, 2.2, 2.3, 5.1, 5.2, 5.3, 7.1, 7.2; see also Treasury bills

junk

market for, 1.1, 1.2, 2.1, 2.2, 4.1, 5.1, 5.2, 6.1, bm1.1, nts.1

municipal, 2.1, 7.1, 7.2, nts.1

taxes on, 5.1, 5.2, 7.1, 7.2

yields for

Bonney, Richard

bonus depreciation provision, 7.1, nts.1

Borst, Nicholas

Boston Tea Party

Boughton, James M., nts.1, nts.2

brackets, tax, 4.1, 7.1, 7.2, 7.3

Brands, H. W., nts.1, nts.2, nts.3, nts.4, nts.5

Brandt, Sylvia J.

Brazil, 2.1, 7.1

Brennan, Geoffrey

Brest, Paul

Bretton Woods agreements (1944), 2.1, 2.2, nts.1

Brewer, John

Bricker, Jesse, nts.1, nts.2, nts.3

bridges, 4.1, 5.1, nts.1

Brookings Institution

Brown, John Murray

Brownstein, Ronald

Bruner, Robert F.

Bryan, William Jennings

bubbles, speculative, 2.1, 5.1, 7.1, 7.2, bm1.1

Buchanan, James M.

Bucks, Brian, nts.1, nts.2, nts.3

budget, federal:

balanced, 1.1, 1.2, 1.3, 2.1, 2.2, 2.3, 2.4, 3.1, 3.2, 3.3, 3.4, 4.1, 4.2, 4.3, 4.4, 4.5, 4.6, 4.7, 5.1, 5.2, 5.3, 5.4, 5.5, 6.1, 7.1, 7.2, bm1.1, app.1, nts.1, nts.2

deficits in, itr.1, itr.2, 1.1, 2.1, 4.1, 4.2, 4.3, 4.4, 4.5, 4.6, 4.7, 5.1, 5.2, 5.3, 5.4, 6.1, 6.2, 6.3, 6.4, 6.5, 6.6, 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, bm1.1, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6, nts.7, nts.8, nts.9, nts.10, nts.11, nts.12

gaps in, 7.1, 7.2, 7.3

projections for, 3.1, 3.2, 3.3, 3.4, 3.5, 4.1, 4.2, 4.3, 5.1, 6.1, 6.2, 7.1, app.1, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6, nts.7, nts.8, nts.9, nts.10, nts.11, nts.12, nts.13, nts.14, nts.15, nts.16, nts.17, nts.18

surpluses in, 1.1, 3.1, 3.2, 3.3, 3.4, 4.1, nts.1, nts.2, nts.3

Budget and Economic Outlook: An Update, The, 4.1, 7.1, app.1

Budget Control Act (2011), 3.1, 4.1, 7.1, 7.2, app.1, app.2, app.3

Buffett, Warren E., 6.1, 6.2, bm1.1, nts.1

Bumiller, Elisabeth

bundled payments

bureaucracy

Bureau of Alcohol, Tobacco, and Firearms, U.S.

Bureau of Labor Statistics, U.S.

Bureau of Public Debt

Burke, Edmund

Burman, Leonard E., nts.1, nts.2, nts.3

Burns, Arthur

Burrows, Edwin Gwynne

Bush, George H. W., 2.1, 3.1, 3.2, 5.1, bm1.1, nts.1, nts.2

Bush, George W., itr.1, 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 3.7, 3.8, 3.9, 3.10, 4.1, 4.2, 4.3, 5.1, 5.2, 5.3, 6.1, 6.2, 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, 7.7, 7.8, 7.9, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6, nts.7, nts.8

business cycles, 5.1, 5.2, nts.1

Bündchen, Gisele

Caballero, Ricardo J.

cable news programs

Calhoun, John, 1.1, nts.1

California, 2.1, 3.1

California gold rush

Calmes, Jackie

campaign contributions, 3.1, nts.1

Campbell, David E., 3.1, nts.1

Campbell, Terry

Canada, itr.1, 1.1, 4.1, 7.1

Cannadine, David

Cantor, Eric

cap-and-trade system

capital:

deposits of, 2.1, 2.2, 2.3

flow of, 2.1, 5.1, 5.2

human

requirements for

capital gains tax, 3.1, 6.1, 6.2, 7.1, 7.2, 7.3, nts.1, nts.2

capitalism

caps, benefits, 7.1, 7.2, 7.3, nts.1

caps, spending, 7.1, 7.2, app.1

carbon dioxide

carbon emissions, 6.1, 7.1, 7.2, 7.3, 7.4, nts.1

cash flow, 1.1, 2.1

Caust-Ellenbogen, Melissa

Census Bureau, U.S.

Center for American Progress

Center on Budget and Policy Priorities

Centers for Disease Control, U.S.

Chafets, Zev

Chaffin, Joshua

charitable contributions, 7.1, 7.2, bm1.1, nts.1, nts.2

Chase, Salmon P., 1.1, 2.1, 2.2

“cheap money,”

checking accounts

Chen, Zhen

Cheney, Dick, itr.1, 3.1, bm1.1

Chernow, Ron

Chesapeake Bay

Children’s Health Insurance Program, 4.1, 4.2, 5.1, 6.1, app.1

child tax credit, 6.1, 7.1, 7.2, nts.1

Chile

China, 2.1, 2.2, 5.1, 5.2, 5.3, 7.1, 7.2, 7.3, nts.1, nts.2

Chinn, Menzie D., nts.1, nts.2

Choi, James J.

Christian Coalition

Christian fundamentalists, 3.1, 3.2, 3.3, 3.4, 3.5

Christie, Chris

Civil War, U.S., 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3, 5.1

Clay, Henry

Clifford, Clark

climate change, 6.1, 6.2, 6.3, 7.1, 7.2, 7.3, bm1.1

Clinton, Bill, 2.1, 3.1, 3.2, 3.3, 3.4, 3.5, 4.1, 5.1, 5.2, 5.3, 7.1, 7.2, bm1.1, nts.1, nts.2, nts.3, nts.4

closed economies

Club for Growth, 3.1, 3.2, 3.3, 6.1

coal, 6.1, 7.1, 7.2

coal-fired power plants

Coburn, Tom

Cockburn, George

code, tax, 3.1, 3.2, 4.1, 6.1, 6.2, 7.1, 7.2, nts.1, nts.2, nts.3

Coggin, John

Cohen, Sarah

Cohen, S. J., nts.1, nts.2

Cohen, Stephen S.

Cohn, Jonathan

coinage, 2.1, 2.2, 2.3, 2.4, nts.1, nts.2, nts.3, nts.4

Coinage Act (1965), nts.1, nts.2 (1873)

Cold War, 2.1, 2.2, 3.1, 4.1, 4.2, 5.1, 7.1, nts.1

Coleman-Jensen, Alisha

collection, tax, 1.1, 1.2, 1.3, 1.4, 5.1, nts.1

Collender, Stan

colonialization

commercial credit

Committee for a Responsible Federal Budget (CRFB), 7.1, nts.1

commodities, 1.1, 1.2, 4.1, 5.1, 5.2, 6.1, 7.1, 7.2, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6

see also specific commodities

Commodities Futures Trading Commission

comparative effectiveness research

competitive contracts

compliance costs

Confederacy

Congress, U.S.:

committees of, 1.1, 3.1, 4.1, 4.2, 5.1, 7.1, 7.2, app.1, nts.1

deficit reduction proposals of, itr.1, 6.1, 7.1, nts.1

Democratic members of, 3.1, 3.2, 3.3, 6.1, nts.1

fiscal policies of, itr.1, 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 3.1, 4.1, 4.2, 6.1, 7.1, bm1.1, nts.1, nts.2

Republican members of, itr.1, 1.1, 3.1, 3.2, 3.3, 3.4, 3.5, 5.1, 6.1, nts.1

special interests and, 6.1, 6.2, nts.1

tax policies of, itr.1, 2.1, 3.1, 3.2, 3.3, 4.1, 6.1, 7.1, app.1, nts.1, nts.2, nts.3

Congressional Budget and Impoundment Control Act (1974)

Congressional Budget Office (CBO), 3.1, 3.2, 3.3, 3.4, 4.1, 5.1, 6.1, 7.1, 7.2, app.1, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6, nts.7, nts.8, nts.9, nts.10, nts.11, nts.12, nts.13, nts.14, nts.15, nts.16

Congressional Progressive Caucus

Congressional Research Service

Conley, Laura

Connally, John

Connelly, Julie

conservative movement, 3.1, 3.2, 3.3, 4.1, 4.2, nts.1

Consolidated Omnibus Budget Reconciliation Act (COBRA) (1985)

consols

Constitution, U.S., 1.1, 1.2, 1.3, 1.4, nts.1

Constitutional Convention, 1.1, 1.2, 1.3, 2.1

Consumer Financial Protection Bureau (CFPB), 3.1, 4.1

Consumer Price Index (CPI)

consumer prices, 1.1, 1.2, 2.1, 2.2, 6.1, app.1, nts.1, nts.2

consumption taxes, 1.1, 1.2, 4.1, 5.1, 5.2, 6.1, 7.1, 7.2, 7.3, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6

Continental Army, 1.1, 2.1

continental bills of credit

Continental Congress, 1.1, 1.2, 1.3, 2.1, nts.1

Continental currency

“continentals,”

contract law

contracts, 7.1, bm1.1

Cooke, Jay

Cooper, Helene

Cooper, Michael

copayments, insurance, 4.1, 4.2, 4.3, 7.1, 7.2

corn, 7.1, 7.2

corporate taxes, 1.1, 4.1, 7.1, 7.2, 7.3, 7.4, nts.1, nts.2

Cortés, Hernán

cotton

counter-cyclical payments

“country bank” notes

Craig, R. Bruce

credit:

bills of, nts.1, nts.2

bubbles in, 2.1, 5.1

markets for

personal, 2.1, 3.1, 5.1, 7.1, 7.2

ratings of, 1.1, 1.2, 1.3, 1.4, 1.5, 2.1, 2.2, 2.3, 3.1, 5.1, 5.2, 5.3, 5.4, 5.5, 5.6

wartime, itr.1, 1.1

currency, 1.1, 2.1, 2.2, 2.3, 2.4, 2.5, 2.6, 5.1, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6, nts.7

see also dollar

Currency Composition of Official Foreign Exchange Reserves

currency markets

currency reserves, 2.1, nts.1

customs duties, 1.1, 4.1, nts.1

Cutler, David

Dahlin, Constance M.

Dallas, Alexander, 1.1, 1.2

Daniels, Mitch

Davis, Karen

debt:

assumption of, 1.1, 7.1

ceiling for, itr.1, 3.1, 4.1, 4.2, 4.3, 5.1, 5.2, 5.3, 6.1, 7.1, bm1.1, nts.1, nts.2, nts.3, nts.4, nts.5

certificates of

corporate, 5.1, 7.1, nts.1

interest payments on, itr.1, 1.1, 1.2, 2.1, 2.2, 4.1, 4.2, 4.3, 4.4, 4.5, 5.1, 5.2, 6.1, nts.1, nts.2

leveraged, 5.1, 7.1

national, itr.1, itr.2, itr.3, itr.4, 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3, 2.4, 2.5, 3.1, 3.2, 3.3, 3.4, 3.5, 4.1, 4.2, 4.3, 4.4, 5.1, 5.2, 5.3, 5.4, 5.5, 6.1, 6.2, 6.3, 6.4, 7.1, 7.2, bm1.1, bm1.2, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6, nts.7, nts.8, nts.9, nts.10, nts.11

personal, 2.1, 3.1, 5.1, 7.1, 7.2

stabilization of

swaps of

Debt Reduction Task Force, 7.1, nts.1

deductibles, insurance, 4.1, 7.1, 7.2

deductions, tax, itr.1, 3.1, 4.1, 4.2, 4.3, 4.4, 4.5, 6.1, 6.2, 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6, nts.7, nts.8, nts.9

defaults, national, itr.1, 1.1, 1.2, 1.3, 2.1, 2.2, 3.1, 4.1, 5.1, 5.2, 6.1, nts.1, nts.2, nts.3

Defense Department, U.S., 7.1, 7.2

defense spending, itr.1, itr.2, itr.3, itr.4, 1.1, 1.2, 1.3, 1.4, 2.1, 2.2, 2.3, 2.4, 3.1, 4.1, 4.2, 4.3, 4.4, 5.1, 5.2, 6.1, 6.2, 6.3, 6.4, 6.5, 7.1, 7.2, bm1.1, nts.1, nts.2

deferment

“deficit hawks,”

deficit reduction proposals, itr.1, 3.1, 6.1, 7.1, 7.2, app.1, nts.1

defined benefit pensions

deflation, 2.1, 2.2, 2.3, 2.4

Defoe, Daniel, 1.1, nts.1

de Gaulle, Charles, nts.1, nts.2

Delaney, Arthur

DeLay, Tom, itr.1, 3.1, 3.2

DeLong, J. Bradford, itr.1, nts.1, nts.2, nts.3

DeMarzo, Peter M.

democracy, 1.1, 1.2, 1.3, 7.1, bm1.1, nts.1

Democratic Party:

congressional members of, 3.1, 3.2, 3.3, 6.1, nts.1

deficit reductions proposed by, itr.1, 6.1

fiscal policies of, 1.1, 3.1, 3.2, 3.3, 3.4, 3.5, 3.6, 5.1, 5.2, 7.1, nts.1

social programs supported by, itr.1, 3.1, 4.1, 5.1, 5.2, 6.1

Democratic-Republican Party, itr.1, 1.1, 1.2, 1.3, 1.4, 1.5, bm1.1

demographics, itr.1, 4.1, 4.2, 4.3, 4.4, 5.1, 6.1, 7.1, 7.2, 7.3

Denmark

deposits, bank, 2.1, 2.2, 2.3

depreciation, 2.1, nts.1

derivatives, 5.1, 6.1

devaluation, 2.1, 2.2, 5.1

developing countries, 7.1, bm1.1

Dewey, Davis Rich, 1.1, 1.2, nts.1, nts.2, nts.3, nts.4

Diamond, Peter A., 6.1, nts.1, nts.2, nts.3

DiCarlo, Matthew

Dietrich, Jessica

DiLorenzo, Thomas J.

di Mauro, Beatrice Weder

direct mail, 3.1, 3.2, 3.3, nts.1

direct taxation

Dirksen, Everett

disability-adjusted life years (DALYs)

disability programs, itr.1, itr.2, 4.1, 4.2, 4.3, 7.1, bm1.1

disaster relief, 4.1, 5.1, bm1.1

discount rates

discretionary spending, 3.1, 4.1, 4.2, 4.3, 7.1, 7.2, app.1, nts.1, nts.2

disease, 1.1, bm1.1

disposable income, 7.1, nts.1

distortions, economic, 6.1, 7.1, 7.2, 7.3, 7.4, 7.5, 7.6, nts.1

distribution neutrality

dividends, 3.1, 7.1, 7.2, nts.1

doctors, 4.1, 4.2, 7.1, 7.2, 7.3, nts.1

Dodd-Frank Wall Street Reform and Consumer Protection Act (2010)

Dole, Bob, 3.1, 3.2, 3.3, 3.4, 3.5

dollar:

devaluation of, 2.1, 2.2, 5.1

establishment of, 1.1, 2.1, 2.2, nts.1

gold standard for, 2.1, nts.1, nts.2, nts.3, nts.4, nts.5, nts.6, nts.7, nts.8

as reserve currency, itr.1, 2.1, 2.2, 2.3, 2.4, 4.1, 5.1, 5.2, 5.3, 5.4, 5.5, 6.1, 6.2, bm1.1, nts.1

value of, 1.1, 2.1, 2.2, 5.1, nts.1, nts.2

Domenici-Rivlin task force

Douglas, Lewis

Dreyfuss, Robert

Drucker, Jesse

drug prescription programs, 3.1, 3.2, 4.1, 7.1, 7.2, 7.3, nts.1, nts.2

Dungan, Nicholas