Wallace C. Peterson Books

In 1989, the federal government's staggering expenditure of $1,197 billion significantly impacted American lives, averaging $4,811 per person and $19,244 for a family of four. The book explores the complexities of this spending, highlighting the $150 billion deficit financed through borrowing from various sources. It delves into the intricate ways federal spending influences the economy and the daily lives of citizens, emphasizing that understanding this financial landscape is crucial for grasping its broader implications on American society.

For more than thirty years, Wallace C. Peterson has stuck to his guns on two fronts: first that the best way to understand the macroeconomy is to master the Keynesian analytic framework and, second, that too much mathematics spoils the student's appreciation of basic macroeconomic concepts. Through the Keynesian framework, Professor Peterson has shown students how to interpret the macroeconomy and how to understand alternative economic perspectives.