White House Burning
The Founding Fathers, Our National Debt, and Why It Matters to You
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Narrated by:
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Nicholas Hormann
About this listen
America is mired in debt—more than $30,000 for every man, woman, and child. Bitter fighting over deficits, taxes, and spending bedevils Washington, D.C., even as partisan gridlock has brought the government to the brink of default. Yet the more politicians on both sides of the aisle rant and the citizenry fumes, the more things seem to remain the same.
In White House Burning, Simon Johnson and James Kwak—authors of the national best seller 13 Bankers and cofounders of The Baseline Scenario, a widely cited blog on economics and public policy—demystify the national debt, explaining whence it came and, even more important, what it means to you and to future generations. They tell the story of the Founding Fathers’ divisive struggles over taxes and spending. They chart the rise of the almighty dollar, which makes it easy for the United States to borrow money. They account for the debasement of our political system in the 1980s and 1990s, which produced today’s dysfunctional and impotent Congress. And they show how, if we persist on our current course, the national debt will harm ordinary Americans by reducing the number of jobs, lowering living standards, increasing inequality, and forcing a sudden and drastic reduction in the government services we now take for granted.
But Johnson and Kwak also provide a clear and compelling vision for how our debt crisis can be solved while strengthening our economy and preserving the essential functions of government. They debunk the myth that such crucial programs as Social Security and Medicare must be slashed to the bone. White House Burning looks squarely at the burgeoning national debt and proposes to defuse its threat to our well-being without forcing struggling middle-class families and the elderly into poverty.
Carefully researched and informed by the same compelling storytelling and lucid analysis as 13 Bankers, White House Burning is an invaluable guide to the central political and economic issue of our time. It is certain to provoke vigorous debate.
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This powerful, unsettling book gives us a rare glimpse behind the closed doors of global financial institutions by the winner of the 2001 Nobel Prize in Economics. When it was first published, this national best-seller quickly became a touchstone in the globalization debate. Renowned economist and Nobel Prize winner Joseph E. Stiglitz had a ringside seat for most of the major economic events of the last decade, including stints as chairman of the Council of Economic Advisers and chief economist at the World Bank.
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Plea
- By Asma on 10-13-20
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Aftershock
- The Next Economy and America’s Future
- By: Robert B. Reich
- Narrated by: Robert Reich
- Length: 4 hrs and 30 mins
- Unabridged
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The author of 12 acclaimed books, Robert B. Reich is a Chancellor’s Professor of Public Policy at the University of California, Berkeley, and has served in three national administrations. While many blamed Wall Street for the financial meltdown, Aftershock points a finger at a national economy in which wealth is increasingly concentrated at the top - and where a grasping middle class simply does not have the resources to remain viable.
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Very plausible assessment of our economy
- By CAR TOP CAMPER on 10-06-10
By: Robert B. Reich
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How the Other Half Banks
- Exclusion, Exploitation, and the Threat to Democracy
- By: Mehrsa Baradaran
- Narrated by: Priya Ayyar
- Length: 9 hrs and 36 mins
- Unabridged
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The United States has two separate banking systems today - one serving the well-to-do and another exploiting everyone else. How the Other Half Banks contributes to the growing conversation on American inequality by highlighting one of its prime causes: unequal credit. Mehrsa Baradaran examines how a significant portion of the population, deserted by banks, is forced to wander through a Wild West of payday lenders and check-cashing services to cover emergency expenses and pay for necessities - all thanks to deregulation that began in the 1970s.
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The Borrowers at the Fringe
- By Darwin8u on 09-13-16
By: Mehrsa Baradaran
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Dead Aid
- Why Aid Is Not Working and How There Is a Better Way for Africa
- By: Dambisa Moyo, Niall Ferguson - foreword
- Narrated by: Mike Chamberlain
- Length: 6 hrs and 29 mins
- Unabridged
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A national best-seller, Dead Aid unflinchingly confronts one of the greatest myths of our time: that billions of dollars in aid sent from wealthy countries to developing African nations has helped to reduce poverty and increase growth. In fact, poverty levels continue to escalate and growth rates have steadily declined - and millions continue to suffer. Debunking the current model of international aid promoted by both Hollywood celebrities and policy makers, Dambisa Moyo offers a bold new road map for financing the development of the world's poorest countries.
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Dangerous / Right Wing US view
- By David O'Donovan on 03-05-19
By: Dambisa Moyo, and others
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An Extraordinary Time
- The End of the Postwar Boom and the Return of the Ordinary Economy
- By: Marc Levinson
- Narrated by: James Foster
- Length: 10 hrs and 55 mins
- Unabridged
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A sweeping reappraisal of the last sixty years of world history, An Extraordinary Time describes how the postwar economic boom dissipated, undermining faith in government, destabilizing the global financial system, and forcing us to come to terms with how tumultuous our economy really is.
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Good review of crucial turning point in history
- By Philo on 11-22-16
By: Marc Levinson
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13 Bankers
- The Wall Street Takeover and the Next Financial Meltdown
- By: Simon Johnson, James Kwak
- Narrated by: Erik Synnestvedt
- Length: 8 hrs and 59 mins
- Unabridged
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Even after the ruinous financial crisis of 2008, America is still beset by the depredations of an oligarchy that is now bigger, more profitable, and more resistant to regulation than ever. Anchored by six megabanks, which together control assets amounting to more than 60 percent of the country's gross domestic product, these financial institutions (now more emphatically "too big to fail") continue to hold the global economy hostage.
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Easy to Understand and Comprehend
- By Kyle on 04-11-10
By: Simon Johnson, and others
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A Generation of Sociopaths
- How the Baby Boomers Betrayed America
- By: Bruce Cannon Gibney
- Narrated by: Wayne Pyle
- Length: 14 hrs and 49 mins
- Unabridged
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What happens when a society is run by people who are antisocial? Welcome to baby boomer America. In A Generation of Sociopaths, Bruce Cannon Gibney shows how America was hijacked by the boomers, a generation whose reckless self-indulgence degraded the foundations of American prosperity.
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Honest introspection required
- By Niki on 03-31-17
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Red Flags
- Why Xi's China Is in Jeopardy
- By: George Magnus
- Narrated by: Derek Perkins
- Length: 9 hrs and 59 mins
- Unabridged
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Over the past four decades, China's remarkable transformation has garnered admiration but also sparked concern. George Magnus draws on his intimate knowledge of this dynamic nation to uncover the origins of its ascent and show why the economic traps it faces at home and the political challenges it faces abroad pose a serious threat to its continued rise.
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A pessimistic vision with western liberal bias
- By Jeronimo L. Jimenez on 10-23-20
By: George Magnus
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The Shifts and the Shocks
- What We've Learned - and Have Still to Learn - from the Financial Crisis
- By: Martin Wolf
- Narrated by: Sean Pratt
- Length: 14 hrs and 53 mins
- Unabridged
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The Shifts and the Shocks is not another detailed history of the crisis, but the most persuasive and complete account yet published of what the crisis should teach us about modern economies and economics. The audiobook identifies the origin of the crisis in the complex interaction between globalization, hugely destabilizing global imbalances and our dangerously fragile financial system.
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Good on Europe's problems, fair global update
- By Philo on 01-08-15
By: Martin Wolf
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Broke
- The Plan to Restore Our Trust, Truth and Treasure
- By: Glenn Beck, Kevin Balfe
- Narrated by: Glenn Beck, Brian Sack
- Length: 11 hrs and 21 mins
- Unabridged
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In the words of Harvard economist Niall Ferguson, the United States is “an empire on the edge of chaos.” Why? Glenn Beck thinks the answer is pretty simple: Because we’ve turned our backs on the Constitution. Yes, our country is financially broke, but that’s just a side effect of our broken spirit, our broken faith in government, the broken promises by our leaders, and a broken political system that has centralized power at the expense of individual rights.
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Finally book that has done the reasearch...
- By dah551 on 10-31-10
By: Glenn Beck, and others
What listeners say about White House Burning
Average customer ratingsReviews - Please select the tabs below to change the source of reviews.
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- Adam
- 11-25-13
Warning: The narrator sounds like Mitt Romney.
I enjoyed 13 Bankers, the first book by these authors, much more. However, I do think the topics in this book are important to understand and feel the authors provide reasonable proposals for reforming U.S. economic and fiscal policy.
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1 person found this helpful
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- Keith Ball
- 05-15-12
A great book on our national debt and our future
Would you listen to White House Burning again? Why?
Yes, I have already listened to this book twice. The book is not only very interesting from a historical reference, but debunks so much of the disinformation and hyperbole in the political rhetoric today.
Our nation faces some serious problems, and as a nation we need to have an intelligent discussion on how we are going to address these problems.
Johnson and Kwak have done an excellent job of explaining deficits, our debt, and how to look at our fiscal responsibilities in relation to our GDP, creditworthiness, and the dollar as the world's reserve currency.
Of particular interest, was how attitudes to government debt evolved from our very beginning as a fragile new nation, through crisis of war and depression, and into today, where US treasuries are the world's choice as a safe haven investment.
The book takes a very sobering look at Social Security, Medicare and what our future costs will be if we don't make some important decisions soon. It looks at the current debt that was created by the two wars, the Bush tax cuts, and the financial crisis, all in what I felt was an objective and nonpartisan analysis.
We as a nation need to make some decisions on how we are going to solve these problems. This book gave me a historical view of past financial crisis and how we got through them, which gave me some hope that despite the political grid lock in Washington we might be able to do it again.
The final chapters offered what the authors felt was a fair and reasonable solution to the debt crisis. I agreed with their solution, but even if you don't agree with their solution, the book offers other possibilities that should be discussed.
There is a solution. There is hope. We can, and must fix this for our children, and future generations. It's not as dire as some would have us believe, but we do have to start now. This book is a great starting point for getting the facts straight, so that we can have a reasonable, and rational discussion of what path we are going to layout for our country's future.
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3 people found this helpful
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- Marc Jones Jr.
- 07-23-23
I loved this book, but others disagree
excellent commentary on the debt and how we got here. I think if you are working or middle class, you will love this book. I would guess those that don't like this book are either upper middle class or wealthy. I wonder if those who don't like this book understand how those in poverty need government investment for things like education to help lift people into being productive in society and out of poverty. our government has failed to invest in fighting poverty, in part because it's expensive to do so, and they are too far in debt. our nation is leaving the poor and lower class out of its economic prosperity as a result, leaving them to find their own way out of environments riddled with crime and poverty, that leads to more crime and poverty.
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- Melanie
- 09-24-15
Light on information, heavy on political opinion
I expected this to be an economists take on what led to the financial collapse and at first it starts off that way; but soon after introducing two key reasons for our sets and economic issues he abandons all analysis (and economics) and rails against different people/movements that appears to dislike. No facts, just pure axe grinding. For example he offers well thought out rationale on why specific tax cuts were terrible for the economy, then talks about a comparable spending increase by only saying it was great for the country and then talking about why he dislikes the political opponents of the spending increase (in great detail, with only opinions). What could have been a great concept quickly turns into a political diatribe
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- Jeff Schuster
- 07-22-13
Highly partisan, but somewhat informative
Would you try another book from James Kwak and Simon Johnson and/or Nicholas Hormann?
There are some good nuggets of knowledge in this book regarding the history of taxes, debt and the value basis of our currency as a country (US). It was very helpful to understand that debt has been an issue for the US as far back as our revolutionary war. However, the author is very clearly highly partisan. He must be a Democrat or Socialist. He makes blanket statements affirming how the American public feels about taxes and government services that certainly do not represent my personal views. This writing style made this book somewhat offensive and I had to grit my teeth to listen to most of the book. The author is almost advocating socialism from a perspective of a collective benefit than referencing any of the founding principles that built this country. I will listen to counter perspectives to better understand a more moderate version of debt, the economy and some of these important financial considerations that we should all understand.
Has White House Burning turned you off from other books in this genre?
No... but probably not this author.
Would you listen to another book narrated by Nicholas Hormann?
Yes... but somewhat flat voice... probably good for book on economics... would not work well for a story book.
You didn’t love this book... but did it have any redeeming qualities?
Good history of taxes, debt and some controls that were put in place very early in our country's history.
Any additional comments?
Need a book with less bias.
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1 person found this helpful