A new era of fiscal rules -- Economic analysis of fiscal rules -- Case studies : fiscal rules in Switzerland and Sweden -- Fiscal rules in the U.S -- Should the U.S. go Swiss? -- Designing a new fiscal rule for the U.S. -- Toward a new budget process -- The political economy of new fiscal rules

This book proposes new fiscal rules to address the debt crisis, including a balanced budget amendment and a deficit-debt brake. It estimates the impact of the proposed rules on the economy over the next two decades

"George Will nailed it when he said we are sleepwalking into a debt crisis. A Fiscal Cliff: New Perspectives on the U.S. Debt Crisis aims to be a key source of the ideas that will be considered once the already-declared crisis is taken seriously. The unsustainable, and still rapidly growing,...

"By looking at the macroeconomic frameworks and experiences of countries such as Germany, Sweden, and Switzerland, Restoring Sustainable Macroeconomic Policies in the U.S. presents a way for the United States to normalize fiscal and monetary policy in order to achieve sustainable debt in the...

"In this book, nineteen experts examine topics ranging from constitutional reform and debt fatigue to fiscal rules and zero-based budgeting. Together, these contributions inform a multifaceted, nuanced argument for the need to formalize spending restraint and redefine state debt to include...