By the end of this section, you will be able to do the following: Understand the arguments for and against requiring the U.S. federal budget to be balanced and Consider the long-run and short-run effects of a federal budget deficit.

In this chapter, you will learn about the following: Government spending; Taxation; Federal deficits and national debt; Using fiscal policy to fight recessions, unemployment, and inflation; Automatic stabilizers; Practical problems with...

Short, but comprehensive, synopsis of Clinton's two terms as president. Included in the article is the 1992 campaign, successful and controversial legislation, and the scandals that would eventually become part of his presidential legacy.