NEW hardcover

White House Burning: The Founding Fathers, Our National Debt, and Why It Matters to You [Hardcover] Johnson, Simon and Kwak, James

America is mired in debtmore than 30,000 for every man, woman, and child Bitter fighting over deficits, taxes, and spending bedevils Washington, DC, even as partisan gridlock has brought the government to the brink of default Yet the more politicians on both sides of the aisle rant and the citizenry fumes, the more things seem to remain the sameIn White House Burning, Simon Johnson and James Kwakauthors of the national best seller 13 Bankers and cofounders of The Baseline Scenario, a widely cited blog on economics and public policydemystify the national debt, explaining whence it came and, even more important, what it means to you and to future generations They tell the story of the Founding Fathers divisive struggles over taxes and spending They chart the rise of the almighty dollar, which makes it easy for the United States to borrow money They account for the debasement of our political system in the 1980s and 1990s, which produced todays dysfunctional and impotent Congress And they show how, if we persist on our current course, the national debt will harm ordinary Americans by reducing the number of jobs, lowering living standards, increasing inequality, and forcing a sudden and drastic reduction in the government services we now take for grantedBut Johnson and Kwak also provide a clear and compelling vision for how our debt crisis can be solved while strengthening our economy and preserving the essential functions of government They debunk the myth that such crucial programs as Social Security and Medicare must be slashed to the bone White House Burning looks squarely at the burgeoning national debt and proposes to defuse its threat to our wellbeing without forcing struggling middleclass families and the elderly into povertyCarefully researched and informed by the same compelling storytelling and lucid analysis as 13 Bankers, White House Burning is an invaluable guide to the central political and economic issue of our time It is certain to provoke vigorous debate