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===The Reagan era===
===The Reagan era===
Fiscal Conservatism was rhetorically promoted during the presidency of [[Ronald Reagan]] (1981-1989). During his tenure, Reagan pushed through economic policies which became known as [[Reaganomics]]. Rooted in a belief in [[supply-side economics]], Reagan cut income taxes, raised social security taxes, deregulated the economy, and propounded a tight monetary policy to stop inflation. Reagan favored reducing the size and scope of government because it was conducive to inefficiency and corruption; he especially attacked welfare. He proposed greatly increased defense spending (which he got), reduction in income taxes (which he got), and reductions in domestic spending (which he did not get). The result was a large increase in the national debt, economic prosperity, and rapid growth. Reagan also achieved a compromise on Social Security that reduced long-term federal spending.<ref>Stein, ''Presidential Economics: The Making of Economic Policy From Roosevelt to Clinton'' (1994)</ref>
Fiscal Conservatism was rhetorically promoted during the presidency of [[Ronald Reagan]] (1981–1989). During his tenure, Reagan pushed through economic policies which became known as [[Reaganomics]]. Rooted in a belief in [[supply-side economics]], Reagan cut income taxes, raised social security taxes, deregulated the economy, and propounded a tight monetary policy to stop inflation. Reagan favored reducing the size and scope of government because it was conducive to inefficiency and corruption; he especially attacked welfare. He proposed greatly increased defense spending (which he got), reduction in income taxes (which he got), and reductions in domestic spending (which he did not get). The result was a large increase in the national debt, economic prosperity, and rapid growth. Reagan also achieved a compromise on Social Security that reduced long-term federal spending.<ref>Stein, ''Presidential Economics: The Making of Economic Policy From Roosevelt to Clinton'' (1994)</ref>
However, by the end of Reagan's second term the [[national debt]] held by the public rose from 26% of [[Gross Domestic Product|GDP]] in 1980 to 41% in 1989, the highest level since 1963. By 1988, the debt totaled $2.6 trillion. The country owed more to foreigners than it was owed, and the United States moved from being the world's largest international creditor to the world's largest debtor nation as investors around the world rushed to send their money to the U.S.<ref>[https://www.washingtonpost.com/wp-dyn/articles/A26402-2004Jun8.html See]</ref>
However, by the end of Reagan's second term the [[national debt]] held by the public rose from 26% of [[Gross Domestic Product|GDP]] in 1980 to 41% in 1989, the highest level since 1963. By 1988, the debt totaled $2.6 trillion. The country owed more to foreigners than it was owed, and the United States moved from being the world's largest international creditor to the world's largest debtor nation as investors around the world rushed to send their money to the U.S.<ref>[https://www.washingtonpost.com/wp-dyn/articles/A26402-2004Jun8.html See]</ref>
* Campbell, Ballard. ''The Growth of American Government: Governance from the Cleveland Era to the Present'' (1995)
* Campbell, Ballard. ''The Growth of American Government: Governance from the Cleveland Era to the Present'' (1995)
* Critchlow, Donald T. "The Political Control of the Economy: Deficit Spending as a Political Belief, 1932-1952," ''The Public Historian,'' Vol. 3, No. 2 (Spring, 1981), pp. 5–22 [http://links.jstor.org/sici?sici=0272-3433(198121)3%3A2%3C5%3ATPCOTE%3E2.0.CO%3B2-%23 in JSTOR]
* Critchlow, Donald T. "The Political Control of the Economy: Deficit Spending as a Political Belief, 1932-1952," ''The Public Historian,'' Vol. 3, No. 2 (Spring, 1981), pp. 5–22 [http://links.jstor.org/sici?sici=0272-3433(198121)3%3A2%3C5%3ATPCOTE%3E2.0.CO%3B2-%23 in JSTOR]
* Greenspan, Alan. ''The Age of Turbulence: Adventures in a New World'' (2007) autobiography of chairman of the Federal Reserve (1987-2006)
* Greenspan, Alan. ''The Age of Turbulence: Adventures in a New World'' (2007) autobiography of chairman of the Federal Reserve (1987–2006)
* Ippolito, Dennis S. ''Why Budgets Matter: Budget Policy and American Politics'' (2003) [https://www.amazon.com/Why-Budgets-Matter-American-Politics/dp/0271022590/ref=sr_1_2?ie=UTF8&s=books&qid=1201126672&sr=8-2 excerpt and text search]
* Ippolito, Dennis S. ''Why Budgets Matter: Budget Policy and American Politics'' (2003) [https://www.amazon.com/Why-Budgets-Matter-American-Politics/dp/0271022590/ref=sr_1_2?ie=UTF8&s=books&qid=1201126672&sr=8-2 excerpt and text search]
* Kimmel, Lewis. ''Federal budget and fiscal policy, 1789-1958.'' (1959).
* Kimmel, Lewis. ''Federal budget and fiscal policy, 1789-1958.'' (1959).
* Stein, Herbert. ''Presidential Economics: The Making of Economic Policy From Roosevelt to Clinton'' (3rd ed. 1994) [https://www.amazon.com/Presidential-Economics-3rd-Economic-Roosevelt/dp/0844738514/ref=sr_1_3?ie=UTF8&s=books&qid=1201126773&sr=8-3 excerpt and text search]
* Stein, Herbert. ''Presidential Economics: The Making of Economic Policy From Roosevelt to Clinton'' (3rd ed. 1994) [https://www.amazon.com/Presidential-Economics-3rd-Economic-Roosevelt/dp/0844738514/ref=sr_1_3?ie=UTF8&s=books&qid=1201126773&sr=8-3 excerpt and text search]
* Tanner, Michael D. ''Leviathan on the Right: How Big-Government Conservatism Brought Down the Republican Revolution'' Cato Institute, 2007 [http://www.questia.com/read/114451355?title=Leviathan%20on%20the%20Right%3a%20%20How%20Big-Government%20Conservatism%20Brought%20Down%20the%20Republican%20Revolution online edition]
* Tanner, Michael D. ''Leviathan on the Right: How Big-Government Conservatism Brought Down the Republican Revolution'' Cato Institute, 2007 [http://www.questia.com/read/114451355?title=Leviathan%20on%20the%20Right%3a%20%20How%20Big-Government%20Conservatism%20Brought%20Down%20the%20Republican%20Revolution online edition]
* Treaster, Joseph B. ''Paul Volcker: The Making of a Financial Legend'' (2005), chairman of the Federal Reserve, (1979-1987)
* Treaster, Joseph B. ''Paul Volcker: The Making of a Financial Legend'' (2005), chairman of the Federal Reserve, (1979–1987)
* Zelizer, Julian E. "The Forgotten Legacy of the New Deal: Fiscal Conservatism and the Roosevelt Administration, 1933-1938." ''Presidential Studies Quarterly''. 30#2. (2000). pp 331+. [http://www.questia.com/PM.qst?a=o&d=5001752830 online]
* Zelizer, Julian E. "The Forgotten Legacy of the New Deal: Fiscal Conservatism and the Roosevelt Administration, 1933-1938." ''Presidential Studies Quarterly''. 30#2. (2000). pp 331+. [http://www.questia.com/PM.qst?a=o&d=5001752830 online]
* Zelizer, Julian E. ''Taxing America: Wilbur D. Mills, Congress, and the State, 1945-1975'' (2000) [https://www.amazon.com/Taxing-America-Wilbur-Congress-1945-1975/dp/0521795443/ref=sr_1_3?ie=UTF8&s=books&qid=1201126591&sr=8-3 excerpt and text search]
* Zelizer, Julian E. ''Taxing America: Wilbur D. Mills, Congress, and the State, 1945-1975'' (2000) [https://www.amazon.com/Taxing-America-Wilbur-Congress-1945-1975/dp/0521795443/ref=sr_1_3?ie=UTF8&s=books&qid=1201126591&sr=8-3 excerpt and text search]