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Timothy J Penny - Payment Due: A Nation In Debt, A Generation In Trouble

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T he generational wars are about to begin: competing for entitlements, wrestling over taxes, dancing around the deficit. Todays children and grandchildren are tomorrows taxpayers and social fabric. The authors of Payment Due contend that our current policies of federal overspending are setting those children up for economic disaster. Former Representative Tim Penny (D-MN) knows how volatile the politics of the situation are; he retired because he couldnt locate in Congress at large the institutional will (or stomach) to deal with the issues squarely. Political scientist Steven Schier understands the way in which the politics work against economics to solve the problem. Together, they take us inside the Capitol corridors to show us the lobbying, arm-twisting, and pork barrel politicking that goes on to derail policies designed to reduce the federal deficit. We get to play the Washington Monument game along with the worst of the offenders and to see firsthand how three schools of deficit thoughtthe wolves, pussycats, and termitesapproach the prospect of cutting back federal outlays and weaning the great middle class from its own welfare dependency. A hallmark of the book is its three-tiered set of long-term entitlement reform proposals, complete with careful documentation of the contribution each recommended item makes toward reducing the federal deficit (or at least slowing its increase). Along with suggested short-term plans, these proposals give students the opportunity to try to solve both short- and long-term problems. Students will appreciate the timeliness and relevance of the books argument to their generations future plight, and all readers will benefit from the clear presentation of complex economic concepts and arguments essential to understanding the federal deficit debateand to confronting the political, social, and moral payments now coming due.

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Payment Due Dilemmas in American Politics Series Editor L Sandy Maisei - photo 1
Payment Due
Dilemmas in American Politics
Series Editor L. Sandy Maisei,Colby College
Dilemmas in American Politics offers teachers and students a series of quality books on timely topics and key institutions in American government. Each text will examine a real world dilemma and will be structured to cover the historical, theoretical, policy relevant, and future dimensions of its subject.
EDITORIAL BOARD
Jeffrey M. Berry
Tufts University
John F. Bibby
University of Wisconsin-Milwaukee
David W. Brady
Stanford University
David T. Canon
University of Wisconsin-Madison
Susan Carroll
Eagleton Institute, Rutgers University
Rodolfo O. de la Garza
University of Texas-Austin
Lawrence C. Dodd
University of Florida
George C. Edwards
Texas A&M University
Diana Evans
Trinity College
Linda L. Fowler
Dartmouth University
Paul S. Herrnson
University of Maryland-College Park
Charles O. Jones
University of Wisconsin-Madison
Ruth S. Jones
Arizona State University
Elaine Ciulla Kamarck
Office of the Vice President of the United States
Theodore J. Lowi
Cornell University
Thomas E. Mann
Brookings Institution
Paula D. McClain
University of Virginia
Michael L. Mezey
DePaul University
Gwendolyn Mink
University of California-Santa Cruz
Karen OConnor
American University
Samuel C. Patterson
Ohio State University
Nelson W. Polsby
University of California-Berkeley
Ronald B. Rapoport
The College of William and Mary
Craig A. Rimmerman
Hobart and William Smith Colleges
Larry Sabato
University of Virginia
David Shribman
The Boston Globe
Walter J. Stone
University of Colorado-Boulder
Margaret Weir
Brookings Institution
James Q. Wilson
University of California-Los Angeles
BOOKS IN THIS SERIES
Payment Due: A Nation in Debt, A Generation in Trouble,
Timothy J. Penny and Steven E. Schier
Bucking the Deficit: Economic Policymaking in the United States,
G. Calvin Mackenzie and Saranna Thornton
Can We All Get Along? Racial and Ethnic Minorities in
American Politics, Paula D. McClain and Joseph Stewart Jr.
Remote and Controlled: Media Politics in a Cynical Age,
Matthew Robert Kerbel
FORTHCOMING TITLES
The Dilemma of Congressional Reform,
David T. Canon and Kenneth R. Mayer
Immigration and Immigrants in the Contemporary United States,
Rodolfo O. de la Garza and Louis DeSipio
No Neutral Ground? Abortion Politics
in an Age of Absolutes, Karen O Connor
Participation, Democracy, and the New Citizenship in Contemporary
American Politics, Craig A. Rimmerman
Onward Christian Soldiers? The Religious Right
in American Politics, Clyde Wilcox
Dilemmas in American Politics
First published 1996 by Westview Press
Published 2018 by Routledge
711 Third Avenue, New York, NY 10017, USA
2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN
Routledge is an imprint of the Taylor & Francis Group, an informa business
Copyright 1996 Taylor & Francis
All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers.
Notice:
Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe.
Library of Congress Cataloging-in-Publication Data
Penny, Timothy J.
Payment due : a nation in debt, a generation in trouble / Timothy
J. Penny, Steven E. Schier.
p. cm. (Dilemmas in American politics)
Includes bibliographical references and index.
ISBN 0-8133-2598-6 (hc.) ISBN 0-8133-2599-4 (pbk.)
1. Budget deficitsUnited States. 2. Government spending policy
United States. 3. Fiscal policyUnited States. I. Schier,
Steven E. II. Title. III. Series.
HJ2051.P465 1996
95-44694
339.5230973dc20
CIP
ISBN 13: 978-0-8133-2599-6 (pbk)
To our children
Jamison, Joseph, Molly, and Marcus Penny
and
Anna and Teresa Schier
in the hope that the future is brighter
than it now seems
Contents
  1. ii
  2. iii
Guide
Tables
Figures
Cartoons
Photos
T ODAYS UNDERGRADUATES have a lot on their mindscompleting their class work, approaching an intimidating job market, and managing the debt that higher education requires many of them to assume. Given the sour atmosphere of national politics, many students understandably have not focused much on Washington events.
But this is a great mistake, for one very big reason. Our national government has saddled young America with a massive public debt burden that threatens their chances for a life materially equal to that of their parents. Large, unceasing federal deficits in recent decades are the cause. Major sources of runaway spending are entitlement programs like Social Security, Medicare, and Medicaid.
Unfortunately, the mention of terms like budgets, debt, deficits, and entitlements usually triggers yawns. The subject seems complex and downright dull. Underneath the stultifying jargon, though, lies a disturbing tale of public mismanagement, with costs placed on the backs of those too young to know.
The two of us have watched this dilemma build over the years, one as a frustrated member of the U.S. House of Representatives and the other as an academic studying the mounting problem. We wrote this book to cut through the blizzard of detail and present clearly the great mistakes of recent decades and their present and future consequences.
Throughout, we balance our perspective with those of other academics and politicians who view the situation in less dire terms. Our readers can decide who has the best arguments. Still, a growing majority of experts on national taxation and spending trends foresee immense difficulties soon unless we move toward budget balance now. Here we explain the predicament, assess blame, and provide principles and proposals that can form a solution.
This book is very much a team effort. We came to know each other in 1982, when Democrat Tim Penny won election in the usually heavily Republican First Congressional District of Minnesota. Since 1983 Steve Schier, who teaches political science at Carleton College, which is in the district, has conducted a Washington program for Carleton. Over the years, the two of us have discussed frequently the mounting financial problems of the national government. Steve interviewed Tim for his first book on this subject, A Decade of Deficits (1992). On retirement, Tim, together with Major Garrett, wrote a critique of Congress entitled Common Cents (1995). Tim now serves as a senior fellow at the Hubert Humphrey School of Public Affairs at the University of Minnesota and teaches courses on Congress and the presidency at Minnesota colleges.
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