America's Fiscal Constitution (94 page)

     
presidential election of 1844 and,
84

     
road project and,
76
,
77

     
Texas annexation and,
84

     
War of 1812 and,
54
,
59

     
Whigs and,
77
,
82
,
84

Clay, Lucius,
219
,
239

Cleveland, Frederick,
171

Cleveland, Grover

     
background/political offices,
123–124

     
coal miners’ strike and,
143

     
description,
123

     
election/presidency,
124–125
,
127–128
,
129
,
131–132
,
152

     
fiscal policies/vetoes,
124
,
125
,
127–128
,
129
,
131–132

     
on Theodore Roosevelt,
141

     
See also
Panic of 1893

Clinton, Bill

     
1992 campaign/election,
307
,
308–309

     
balanced budgets and,
307
,
313
,
314–315
,
320–321
,
404

     
fiscal actions/policies,
10
,
258
,
297
,
303
,
307
,
308
,
310
,
313
,
314–315
,
320–321
,
325
,
329
,
405

     
Fiscal Tradition and,
325
,
404
,
405

     
as governor,
303
,
307

     
health insurance and,
274
,
311

     
Medicaid/state funding and,
303

     
Medicare/Medicaid and,
316
,
367
,
390
,
404

     
Reagan’s spending/tax cuts and,
309–310

     
scandal/calls for impeachment,
320

     
unified budgets and,
320–321
,
329
,
351

Clinton, DeWitt,
54

Clinton, Hillary,
311

“Closed rule,”
260

Cobb, Howell,
97
,
98
,
104

Cold War

     
Berlin crisis,
165
,
243
,
365

     
Carter/Brown challenge to NATO,
275

     
China and,
242

     
communist takeovers and,
215
,
216
,
218

     
Nixon and,
263
,
375

     
nuclear weapons and,
242
,
275
,
276

     
US policy changes with Soviet Union,
215

     
US spending/taxes,
228
,
230
,
235
,
237
,
246
,
259
,
260
,
261
,
275
,
375

     
See also
Vietnam War
;
specific countries
;
specific individuals

Commission on Fiscal Responsibility and Reform (Simpson-Bowles budget plan),
352
,
399

Committee for a Responsible Federal Budget,
360

Committee for Economic Development,
224

Comprehensive Employment and Training Act (CETA/1973),
267
,
274–275

Congress of the Confederation

     
debt and,
19–20
,
25

     
taxing authority and,
20
,
21

     
Washington and,
19–20

     
See also
Philadelphia meeting

Congressional Budget and Impoundment Control Act (1974),
266

Congressional Budget Office (CBO)

     
Clintons’ health plan and,
311

     
forecasts/flaws of,
307
,
319
,
320
,
322
,
323–324
,
327
,
329
,
347

     
medical spending and,
349

     
Medicare financing projection,
389

     
Recession of 2008 and,
347

     
report (May 1997),
319
,
329

     
surplus and,
329
,
330

Conkling, Roscoe,
112
,
121
,
122
,
123

Connally, John,
262

Conrad, Kent,
320
,
329
,
337
,
348

Constitution

     
Confederation/Continental Congress debt and,
25
,
29–30

     
ratification,
24

     
See also
Bill of Rights
;
Philadelphia meeting
;
specific amendments

Consumption taxes

     
alcohol,
160

     
fiscal year ending June 1916,
159–160

     
tobacco,
160

Contract with America,
312–313

Cooke, Harry,
107

Cooke, Jay,
107
,
108
,
109
,
115

Coolidge, Calvin

     
death,
188

     
Farm Bloc and,
178–179

     
fiscal policies,
151
,
178–179
,
192
,
280

     
on Great Depression,
188

     
Harding and,
168
,
171

     
presidency,
169
,
178–180
,
192

     
unemployment strategy,
179–180

Cooper, Jim,
352

Corbin, Abel,
114

Cortelyou, George,
147
,
149

Cotton industry exports/imports,
60
,
61
,
63
,
64
,
66
,
71
,
76
,
79
,
80
,
85
,
97
,
107
,
116
,
119
,
126
,
127

Cox, James,
167

Coxe, Tench,
60

Coxey, John,
132

Crawford, William,
59
,
62
,
63
,
64–65

“Credit easing”/“quantitative easing,”
350
,
402

Crimean War,
97

Cummins, Albert,
147

Custer, George,
115–116

Daley, Richard,
285

Dallas, Alexander,
55
,
56–57
,
59
,
61

Daniels, Mitch,
333

Darman, Richard,
301
,
304
,
306

Daschle, Tom,
331

Davis, Jefferson

     
Civil War and,
107

     
as senator,
97

Dawes, Charles

     
background,
132–133
,
169

     
federal budget process,
170–173

     
fiscal policies,
133
,
170–173

     
Great Depression and,
187

     
Harding administration/fiscal policy,
169

     
Nobel Prize,
173

     
politics,
133
,
134
,
137
,
179

     
push for efficiency/savings,
171–172

Debs, Eugene,
151
,
154
,
168

Debt

     
1854,
86

     
1860,
99–100

     
1902–1915,
157

     
1969,
258–259

     
balanced budget Constitutional amendment and,
268
,
272
,
287
,
312
,
313
,
327
,
371–372

     
before Federal Reserve,
156

     
Bush, George W.,
9–12
,
327–341
,
343–348
,
376
,
407

     
Civil War/retiring debt,
110
,
112–114
,
119–120
,
151
,
156
,
157
,
213

     
Constitution and,
1

     
early 1800s,
44
,
51
,
60

     
interest on (late 1980s),
299

     
Jackson paying of national debt,
78

     
Mexican Cession/territory in northwest and,
84–85

     
myths about,
12–14

     
“next generation” and,
9
,
28
,
110
,
235–236
,
341
,
408

     
overview (through 2014),
3–4
,
14–15

     
Panama Canal,
142
,
151
,
156
,
157

     
Reagan,
291–294

     
Spanish-American War,
136
,
151
,
156
,
157

     
state government limits and,
79–80

     
War of 1812,
53
,
54–55
,
56–57
,
58
,
59
,
108
,
213

     
World War I and,
108
,
156
,
161–164
,
165
,
179

     
See also
Federal surplus
;
specific individuals

Debt ceiling

     
1939,
164–165

     
before 2000,
365

     
Congress (1975),
267

     
federal leaders forgetting origins,
165

     
Great Depression and,
201–202

     
votes on debt-financed appropriations and,
365–367

     
World War I and,
164

     
World War II and,
165
,
236

“Debt coverage ratio”

     
concept beginnings,
36

     
description/use,
3
,
36

Debt crisis (US in twenty-first century)

     
compound interest and,
354–355
,
376

     
debt service costs and,
355–356

     
demographics and,
355

     
federal funds revenue/national income,
358–359
,
359
(fig.)