How Did We Get Here From There Reform of the Federal Budget Process Hearings
How Did We Get Here From There Reform of the Federal Budget Process Hearings
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In our eReader you can find the full English version of the book. Read How Did We Get Here From There Reform of the Federal Budget Process Hearings Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book How Did We Get Here From There Reform of the Federal Budget Process Hearings
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Those issues are not immediately important for deficit reduction, and deserve to be treated in a dif- ferent forum, probably one in which the Byrd Rule does not govern.
Deficit lesson #5: Don't ignore contingent liabilities The other big lesson of the 1980s — beyond the lesson that tax cuts increased the deficit — is that government insurance can be expensive. When the savings and loan industry sank too low in the water, the savings of tens of millions of depositors were at risk, as was the sta...bility of the entire banking system. Federal deposit insurance is a wonderful program; the lack of deposit insurance was one of the major reasons that the recession of 1929 turned into the Great Depression and its existence since then is one reason that the Great Depression has not recurred.
But the 1980s showed that it was unwise to allow thrift institutions to gamble with the taxpayers' money (which is what deregulation allowed), to fail to supervise the industry, and to put artificial constraints on the ability of the government to shut down insolvent thrifts and pay off depositors before they gambled away even more of the taxpayers' money.
What to read after How Did We Get Here From There Reform of the Federal Budget Process Hearings?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress House Committee On the B to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Those issues are not immediately important for deficit reduction, and deserve to be treated in a dif- ferent forum, probably one in which the Byrd Rule does not govern.
Deficit lesson #5: Don't ignore contingent liabilities The other big lesson of the 1980s — beyond the lesson that tax cuts increased the deficit — is that government insurance can be expensive. When the savings and loan industry sank too low in the water, the savings of tens of millions of depositors were at risk, as was the sta...bility of the entire banking system. Federal deposit insurance is a wonderful program; the lack of deposit insurance was one of the major reasons that the recession of 1929 turned into the Great Depression and its existence since then is one reason that the Great Depression has not recurred.
But the 1980s showed that it was unwise to allow thrift institutions to gamble with the taxpayers' money (which is what deregulation allowed), to fail to supervise the industry, and to put artificial constraints on the ability of the government to shut down insolvent thrifts and pay off depositors before they gambled away even more of the taxpayers' money.
What to read after How Did We Get Here From There Reform of the Federal Budget Process Hearings?
You can find similar books in the "Read Also" column, or choose other free books by United States Congress House Committee On the B to read onlineMoreLess
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