Voters as Fiscal Conservatives
分析1950-1988年美国总统、参议员和州长选举数据，发现选民会惩罚联邦和州政府支出的增长，且国防与非国防支出影响相同，但州福利支出代价更高，赤字融资则无政治影响。
Voters penalize federal and state spending growth. This is the central result of my analysis of voting behavior in Presidential, Senatorial, and gubernatorial elections from 1950–1988. The composition of federal spending growth seems irrelevant. The vote loss to the President's party from an extra dollar of defense or nondefense spending is the same. However, in gubernatorial elections, expansion of state welfare spending exacts a disproportionate political price. Deficit financing of federal or state spending does not appear to matter politically. I conclude by discussing the obvious question of why government budgets have grown in the face of this voter hostility.