America's fiscal constitution: its triumph and collapse

A new nation and Democratic party limit Federal debt : 1789-1853. Debt gives rise to a new nation and political party 
 Jefferson\'s party defines the limits on debt 
 A revived Democratic party pays off the debt --
The tradition sustains a growing nation and the Republican party : 1854-1900. Republicans embrace the tradition 
 Borrowing and taxing to restore the Union 
 Shrinking debt and drifting parties --
Progressive reformers embrace the tradition : 1901-1940. Reformers redefine the parties and government 
 Financing a world war and paying down debt 
 Debt during the Great Depression --
Containing the burden of World War II debt while increasing commitments : 1941-1976. War and taxes 
 Containing debt while funding defense, pensions, and highways 
 Medical needs, war, and recession --
The erosion, revival, and collapse of the tradition : 1977-2013. Structural deficit : pressures for tax cuts 
 The tradition survives, though its pillars erode 
 Traditionalists battle back 
 The tradition collapses 
 The Great Recession and budget stalemate --
Restoring the tradition. Reviving traditional budget practices 
 Balancing the national security budget 
 Paying for medical care 
 Growth, taxes, and the Federal Reserve 
 Reforming the political parties --
Appendices. A, US Treasury debt, 1790-2013 
 B, Unmonetized debt compared to national income and tax revenues, 1790-2012 
 C, Federal funds revenues, outlays, and surplus/deficit, 1789-2013 
 D, Foreign holdings of US debt, 1976-2011 
 E, US state and local debt, 1970-2009 
 F, Trade balances, 1790-2010 
 G, Corporate income tax : effective rates and share of national income, 1960-2009 
 H, Personal income tax : effective rates and share of national income, 1950-2010.