America's Fiscal Constitution (100 page)

National bank/banking.
See
Central bank/banking

“National Republicans,”
75

National Reserve Association,
151

National Security Council (NSC),
8
,
226

Native American Party (“Know-Nothing Party”),
89
,
93
,
95
,
95–96
,
99

NATO (North Atlantic Treaty Organization),
5
,
221
,
226
,
275

Naval War of 1812, The
(Theodore Roosevelt, Jr.),
144

New Deal/legacy,
13
,
184
,
189
,
200
,
212
,
219
,
220
,
267
,
279
,
280
,
297

New York Bank Clearing House Association,
117

New York City

     
1930 debt,
173

     
becoming center of global finance,
159

New York Times
,
116
,
283

Niskanen, William A.,
294

Nixon, Richard

     
1971 monetary/economic changes,
262

     
communism and,
221

     
fiscal policies/taxes and,
237
,
238
,
259–263
,
265
,
266
,
278
,
280
,
303

     
gold standard and,
262

     
import fees,
262

     
Social Security/programs and,
263
,
264
,
274

     
wage/price controls,
262

     
Watergate/resignation,
266
,
267

Norquist, Grover

     
background,
312

     
balancing the budget and,
360

     
Bush, George W. and,
325

     
tax credit plan,
314

     
taxes and,
312
,
313
,
314
,
348

     
“Taxpayer Protection Pledge,”
312
,
313

North Atlantic Treaty Organization (NATO),
5
,
221
,
226
,
275

Northern Democratic Party/individuals,
87
,
88
,
90
,
95
,
98
,
100
,
109

Northwest Ordinance of 1787,
87–88

NSC (National Security Council),
8
,
226

Nunn, Sam,
275

Obama, Barack

     
balanced budgets and,
353

     
debt-financed Medicare and,
349

     
fiscal policies,
341
,
404
,
405

     
Medicare/Medicaid spending and,
351

     
recession starting 2008 and,
344–345
,
346–347
,
348

     
speaking skills,
348–349

     
See also
Affordable Care Act

Ocala Demands/platform,
130–131

“OK” origins,
79

Old World property laws in US,
86

O’Mahoney, Joseph,
222

Omnibus Budget Reconciliation Act (1990),
306–307
,
308
,
319

Omnibus Budget Reconciliation Act (1993),
319

On the Principles of Political Economy and Taxation
(Ricardo),
62

O’Neil, Thomas “Tip,”
292
,
294
,
299

O’Neill, Paul

     
background,
328

     
Bush administration and,
328
,
331
,
332
,
333
,
340–341

     
fiscal policies,
267

     
Ford administration,
267

Orszag, Peter,
349

Pacific Railway Act (1862),
110

Packwood, Bob,
301

Pakenham, Edward,
58
,
59

Panama Canal,
141
,
142
,
151
,
156

Panetta, Leon,
310

Panic of 1819

     
cotton and,
64
,
71

     
economic consequences,
64–65

     
federal borrowing/debt and,
65–67

     
import taxes and,
64–65

     
land sales/speculation and,
64

     
money supply and,
65

     
Monroe and,
65

     
national/state banks and,
64–65

Panic of 1837

     
blame and,
80
,
81
,
82

     
British recession and,
79
,
80

     
causes,
79
,
80

     
economic recovery from,
83

     
federal revenues/shortfalls and,
80–81

     
import tax revenues and,
80

     
real estate bubble and,
79

     
short-term notes and,
81
,
82

     
state governments’ foreign creditors and,
79

     
Tilden and,
122

     
Van Buren/strategies and,
79
,
80–81

Panic of 1857

     
causes,
97

     
fiscal policies and,
97

     
import taxes and,
98

     
situation before,
96–97

Panic of 1873,
115–116

Panic of 1893

     
blame/causes,
131–132

     
Cleveland and,
131–132

     
fiscal policies to recover,
131–132
,
151

Panic of 1907

     
effects/consequences,
147

     
federal strategies to recover,
142
,
147

     
Morgan and,
146–147

     
need for central bank,
148
,
149–150

Paper currency

     
Civil War and,
94
,
106

     
conversion to gold and (1879),
118

Parish, David,
55

Paulson, Hank,
345

Pearl Harbor attacks,
207
,
337
,
338

Pelosi, Nancy,
344

Pensions

     
Civil War veterans,
115
,
122
,
124
,
125
,
130
,
145

     
employers in early/mid-1900s and,
177
,
195
,
228

     
employers/World War II and,
210–211

     
Progressives and (early 1900s),
179

     
taxes and,
177

     
World War I veterans and,
179
,
188
,
192–194

     
World War II finances and,
210–211

     
See also
Social Security

People’s Party,
93
,
94

Perkins, Frances,
197

Perot, H. Ross

     
1992/1996 campaigns/elections and,
307–309
,
318

     
American Fiscal Tradition and,
308
,
403

     
background/style,
307–308

     
Contract with America and,
312

     
influence of,
308–309
,
310

Pershing, John “Black Jack,”
171

Philadelphia meeting (1787)

     
agenda,
21–22

     
Constitution writing,
23–24

     
organizing,
21–22

     
War of Independence debt and,
1
,
21–22

     
Washington and,
22–23

Pickering, Timothy,
42

Pickle, Jake,
294

Pierce, Franklin,
89

Pink, Leonard,
231

Platt, Tom,
136

Poland and World War II,
201

Political parties

     
1920 nominating conventions/nominees and,
167–168

     
1992 campaign election and,
307–309

     
agreeing on fiscal policy essentials (post–World War II),
221

     
beginnings/Jefferson and,
35
,
36
,
38
,
43
,
60

     
debt limits and,
75

     
partisanship (1940s-1950),
4–5

     
presidential selection process beginnings,
75

     
reform needs,
403–408

     
reformers early 1900s/election of 1912 and,
151–155

     
slavery issue and,
86
,
87
,
88–90

     
third parties fates (1900s),
134
,
180

     
two-party system emergence,
110

     
two-party system strength,
154

     
Van Buren and,
71–75
,
82

     
Wanniski’s “two Santa Claus theory” on,
280

     
Washington’s views on,
35–36

     
See also specific parties

Polk, James Knox

     
debt and,
84–85

     
Mexican Cession/territory in northwest and,
84–85

     
presidency,
84
,
149

     
presidential election of 1844 and,
84

     
See also
Texas annexation

Powell, Colin,
334

Prairie populists,
127
,
129
,
130–131

Presidential selection process

     
changes in electorate and,
64
,
71

     
Founding Fathers and,
70–71

     
John Quincy Adams selection and,
70

     
Monroe’s second term and,
71

     
party platform beginnings,
73

     
Van Buren and,
70
,
71–75

     
See also
Electoral College
;
Political parties

Progressive Republican Caucus/Party,
153