13 Sep Discussion Board Topic: The Politics And Policy Of Taxes And Deficit Spending.
Public budgets generally arise from two related and often contrasting concepts 1) that the people, thorough the Constitution, granted the federal government limited powers to spend to accomplish legitimate constitutional ends and 2) that the people, through the Constitution granted the federal government a limited taxing power in order to raise revenues to cover those expenditures. Over two centuries after these limited grants were made, debates rage over the growing number of kinds, types, and categories of expenditures made by an expanding federal government and the prolific use of debt to finance expenditures that that are beyond the government’s means. As is so often true of public sector budgeting, the decisions related to the role of government, the spending it obligates the American people to absorb, and the strategies employed in financing obligations beyond the Nation’s means are largely shaped by a political dynamic. This week we will begin to explore the politics of spending.
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