<i>Red Ink: Inside the High-Stakes Politics of the Federal Budget</i>
Author(s) -
Michael Veselik
Publication year - 2014
Publication title -
policy perspectives
Language(s) - English
Resource type - Journals
eISSN - 2377-7753
pISSN - 1085-7087
DOI - 10.4079/pp.v21i0.13356
Subject(s) - politics , federal budget , political science , law , fiscal year
point of contention in American politics since the nation was founded. Among other characteristics, the budget identifies national priorities, ensures the national defense, and attempts to promote the nation’s general welfare. In fiscal year 2014, the federal budget was authorized for more than $3 trillion. yet, the federal budget remains obscured in a nebulous patchwork of policy and process, which few understand. Further, the language used in reports by the media is often confusing, and the Congressional Budget Office (CBO) and the Office of Management and Budget (oMB) reports are often too dense for the average reader. Therefore, how does one ensure the American public has a greater understanding of this often-misunderstood process? Red Ink: Inside the High-Stakes Politics of the Federal Budget by David Wessel answers this question. Wessel’s work offers an excellent insight into the federal budget process using comparisons that most readers will understand. Wessel simplifies many of the complex issues in the federal budget, and he offers a text that is both accessible for the average reader and entertaining for the most wellinformed policy wonk. his work is also unique insofar as he does not approach this book with an agenda. rather, the book is focused on promoting increased knowledge of the nation’s fiscal issues. in the book’s introductory chapter, Wessel familiarizes the reader with the federal budget process and some of its major players. he selectively focuses on such key individuals as Treasury Secretary Jack lew, White house Chief of Staff for the obama Administration at the time the book was published, and Congressman Paul ryan, Chairman of the house Budget Committee. Wessel uses lew and ryan to highlight the dichotomized view of the federal budget within US political parties. he then proceeds to show the complexity of the budget and its sheer size, stating that “[i]n fiscal year 2011 [...] the federal government spent $3.6 trillion, $400 million an hour, more than $30,000 per American household” (Wessel 2013, 20). Using clear language rather than complex spreadsheets and policy jargon, he then touches on several key issues, including mandatory and defense spending, the federal workforce, healthcare costs, the Troubled Assets relief Program (better known as TArP), and long-term deficits. in chapter two, “how We Got here,” Wessel details the career of leon Panetta and describes how the US federal deficit evolved, tracing current federal budget trends back to the New Deal, which greatly altered the role government plays in society. Panetta has had a long career in American politics as a US representative, White house Chief of Staff, CiA Director, and Secretary of Defense; and throughout his career, he focused on the deficit as a major driver of fiscal and economic concerns. According to Wessel, BooK rEviEW
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