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Robert P. Murphy
Northern Light: Lessons for America from Canada's Fiscal Fix
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preface
executive summary Introduction
The United States’ Unsustainable Fiscal Trajectory
Federal Spending
Federal Budget Deficits and Debt
Federal Entitlements
The Centralization of Federal Power
The Amazing Canadian Fiscal Turnaround
The 1995 Budget – Ottawa Changes Course
Ottawa Cuts Federal Government Spending and Employment
Getting Government Right – Program Review
Spending Cuts Far Outweighed Tax Hikes
After the Reforms: Let the Good Times Roll
Canada’s Lessons for America
Lessons from Canada: Getting Spending Right
Lessons from Canada: Getting the Debt Under Control
Lessons from Canada: Entitlement Reform
Lessons from Canada: Decentralization
Lessons from Canada: Managing the politics of reform
Conclusion
introduction
PART I - How the United States Created Its Fiscal Crisis
chapter 1 First, Admit There’s a Problem: The United States’ Unsustainable Fiscal Trajectory
Federal Spending
Source: Office of Management and Budget (OMB).
1
Sources: White House, American Presidency Project.
Source: CBO Historical Budget Data, tables F-3 through F-5.
Federal Taxation: Level and Composition
Sources: White House, American Presidency Project.
Federal Budget Deficits and Debt
Sources: OMB, CBO June 2012 Long-Term Fiscal Outlook.
Source: OMB.
Federal Entitlements
The Centralization of Federal Power
Summary
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