The great deficit debacle

Identifies the causes of the budgetary shifts that led to surpluses in 1998 and the return to deficits in 2001 in the United States. It places the federal budget within the larger context of the economy as a whole and analyses the influence of the economy and policy on the budget's position. By analyzing how policymakers influenced the budget, the goal is to indicate how policymakers might be redirected from targeting balanced budgets to targeting social goals like full employment.