Is There a Bias toward Excess in U.S. Government Budgets or Deficits?
AbstractDo the political institutions of a majoritarian representative democracy, and in particular those of the United States, systematically produce either levels of public spending or budget deficits that are excessive? Should U.S. political institutions be altered by constitutional amendment to deal with these problems? I will start by examining the issue of public spending, and then turn to the question of budget deficits.
CitationSchultze, Charles L. 1992. "Is There a Bias toward Excess in U.S. Government Budgets or Deficits?" Journal of Economic Perspectives, 6 (2): 25-43. DOI: 10.1257/jep.6.2.25
- H60 National Budget, Deficit, and Debt: General
- H50 National Government Expenditures and Related Policies: General