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Michael Meeropol argues that the ballooning of the federal budget deficit was not a serious problem in the 1980s, nor were the successful recent efforts to get it under control the basis for the prosperous economy of the mid-1990s. In this controversial book, the author provides a close look at what actually happened to the American economy during the years of the "Reagan Revolution" and reveals that the huge deficits had no negative effect on the economy. It was the other policies of the Reagan years--high interest rates to fight inflation, supply-side tax cuts, reductions in regulation, increased advantages for investors and the wealthy, the unraveling of the safety net for the poor--that were unsuccessful in generating more rapid growth and other economic improvements. Meeropol provides compelling evidence of the failure of the U.S. economy between 1990 and 1994 to generate rising incomes for most of the population or improvements in productivity. This caused, first, the electoral repudiation of President Bush in 1992, followed by a repudiation of President Clinton in the 1994 Congressional elections. The Clinton administration made a half-hearted attempt to reverse the Reagan Revolution in economic policy, but ultimately surrendered to the Republican Congressional majority in 1996 when Clinton promised to balance the budget by 2000 and signed the welfare reform bill. The rapid growth of the economy in 1997 caused surprisingly high government revenues, a dramatic fall in the federal budget deficit, and a brief euphoria evident in an almost uncontrollable stock market boom. Finally, Meeropol argues powerfully that the next recession, certain to come before the end of 1999, will turn the predicted path to budget balance and millennial prosperity into a painful joke on the hubris of public policymakers. Accessibly written as a work of recent history and public policy as much as economics, this book is intended for all Americans interested in issues of economic policy, especially the budget deficit and the Clinton versus Congress debates. No specialized training in economics is needed. "A wonderfully accessible discussion of contemporary American economic policy. Meeropol demonstrates that the Reagan-era policies of tax cuts and shredded safety nets, coupled with strident talk of balanced budgets, have been continued and even brought to fruition by the neo-liberal Clinton regime." --Frances Fox Piven, Graduate School, City University of New York Michael Meeropol is Chair and Professor of Economics, Western New England College.
This book seeks to make sense of Clinton's upset victory over Bush. First, it analyzes the political and economic forces that contributed to Clinton's success and comments on the unique aspects of the 1992 campaign. Second the book attempts to forecast what type of president Clinton will be based on his role models for the job-Roosevelt, Kennedy and Carter-and his personal characteristics defined by his experience as Governor of Arkansas. It then offers a view of how Washington D.C. will change in terms of business transactions, who the major players will be, and how the relations between the three branches of government will change. The authors outline Clinton's basic vision that will influence his administration's policies, focusing on the actual policy changes that are anticipated.
A revealing and often shocking new look at one of our most successful presidents—and how his policies reshaped our place on the world stage.
Historians have long considered the Battle of Monmouth one of the most complicated engagements of the American Revolution. Fought on Sunday, June 28, 1778, Monmouth was critical to the success of the Revolution. It also marked a decisive turning point in the military career of George Washington. Without the victory at Monmouth Courthouse, Washington's critics might well have marshaled the political strength to replace him as the American commander-in-chief. Authors Mark Edward Lender and Garry Wheeler Stone argue that in political terms, the Battle of Monmouth constituted a pivotal moment in the War for Independence. Viewing the political and military aspects of the campaign as inextricably entwined, this book offers a fresh perspective on Washington’s role in it. Drawing on a wide range of historical sources—many never before used, including archaeological evidence—Lender and Stone disentangle the true story of Monmouth and provide the most complete and accurate account of the battle, including both American and British perspectives. In the course of their account it becomes evident that criticism of Washington’s performance in command was considerably broader and deeper than previously acknowledged. In light of long-standing practical and ideological questions about his vision for the Continental Army and his ability to win the war, the outcome at Monmouth—a hard-fought tactical draw—was politically insufficient for Washington. Lender and Stone show how the general’s partisans, determined that the battle for public opinion would be won in his favor, engineered a propaganda victory for their chief that involved the spectacular court-martial of Major General Charles Lee, the second-ranking officer of the Continental Army. Replete with poignant anecdotes, folkloric incidents, and stories of heroism and combat brutality; filled with behind-the-scenes action and intrigue; and teeming with characters from all walks of life, Fatal Sunday gives us the definitive view of the fateful Battle of Monmouth.
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Questioning popular belief, a historian and re-examines what exactly led to the British Empire’s loss of the American Revolution. The loss of America was an unexpected defeat for the powerful British Empire. Common wisdom has held that incompetent military commanders and political leaders in Britain must have been to blame, but were they? This intriguing book makes a different argument. Weaving together the personal stories of ten prominent men who directed the British dimension of the war, historian Andrew O’Shaughnessy dispels the incompetence myth and uncovers the real reasons that rebellious colonials were able to achieve their surprising victory. In interlinked biographical chapters, the author follows the course of the war from the perspectives of King George III, Prime Minister Lord North, military leaders including General Burgoyne, the Earl of Sandwich, and others who, for the most part, led ably and even brilliantly. Victories were frequent, and in fact the British conquered every American city at some stage of the Revolutionary War. Yet roiling political complexities at home, combined with the fervency of the fighting Americans, proved fatal to the British war effort. The book concludes with a penetrating assessment of the years after Yorktown, when the British achieved victories against the French and Spanish, thereby keeping intact what remained of the British Empire. “A remarkable book about an important but curiously underappreciated subject: the British side of the American Revolution. With meticulous scholarship and an eloquent writing style, O'Shaughnessy gives us a fresh and compelling view of a critical aspect of the struggle that changed the world.”—Jon Meacham, author of Thomas Jefferson: The Art of Power
An invaluable history of an extraordinary presidency, and the chronicle of a generation's political odyssey When in 1997 Bill Clinton appointed Sidney Blumenthal as a senior advisor, the former writer was catapulted into the front lines of the Clinton wars. From his first day in the White House until long after his appearance as the only presidential aide ever to testify in an impeachment trial, Blumenthal acted in or witnessed nearly all the battles of the Clinton years. This major book—part history, part memoir—is the first inside account we have of the presidency of William Jefferson Clinton. The Clinton Wars begins in 1987, when Blumenthal first met Bill and Hillary Clinton. His chronicle of Clinton's first presidential campaign and first term draws on his experiences as confidant to both the President and the First Lady, and is enriched with previously unpublished revelations about both. This remarkable personal interpretation goes far in explaining the polarizing nature of Clinton's presence on the national scene. The narrative of Clinton's second term is even more dramatic. Blumenthal takes special note of the battle that was waged within the media between the President's detractors and defenders, which he expands into a vivid picture of Washington society torn apart by warring factions. But he does not neglect the wars fought on other fronts—in Kosovo, against Congress, and for economic prosperity. His remarkable book ends with the inside story of the fight to elect Al Gore in 2000 and extend the legacy of the Clinton-Gore Administration. Every page of this unrivaled, authoritative book, with its intimate insights into Clinton's personality and politics, attests to Blumenthal's literary skill, profound understanding of politics, and unique perspective on crucial events of our recent past. The Clinton Wars is a lasting contribution to American history.