"Makin, the director of fiscal policy studies at the American Enterprise Institute, and Ornstein, a resident scholar at the institute, trace the conduct of fiscal policy from the debates of Hamilton and Jefferson to the Clinton administration. The quality of their narrative is rich, and problems with debt and taxes are placed in the context of politics, philosophy, and ideology. The work will appeal both to those who are interested in the history of fiscal policy and to individuals concerned with current budget issues. The authors, more hopeful than despairing, take a lot of space describing the origins of the current debt crisis; they offer constructive, sensible methods that, taken together, could dramatically improve, if not cure the budget crisis. Well written and argued in an evenhanded fashion, this book is required reading for people who think seriously about fiscal policy and the current budgetary crisis. A good choice for public libraries."

--Library Journal

John H. Makin and Norman J. Ornstein are resident scholars at AEI.