Skip to main content
  • Experts
  • Events
  • Briefing Book
  • Resources
  • About
  • Contact
  • Support
  • Fiscal Facts
Twitter
Facebook
Logo Site
  • Topics
    • Individual Taxes
    • Business Taxes
    • Federal Budget and Economy
    • State and Local Issues
    • Campaigns, Proposals, and Reforms
  • TaxVox Blog
  • Research & Commentary
  • Laws & Proposals
  • Model Estimates
  • Statistics
  • Features
Research report

The Hard Road to Fiscal Responsibility

John L. Palmer, Rudolph G. Penner
October 16, 2012
Download PDFPrint
Share

Primary tasks

  • Overview(active tab)
  • Full Report

Abstract

The paper describes the current U. S. fiscal problems showing that without significant changes in revenue and spending policies, the country is headed for a sovereign debt crisis similar to that afflicting countries in Southern Europe. Various options for stabilizing the debt-GDP ratio are analyzed including the proposals of the President's National Commission on Fiscal Responsibility and Reform and the Bipartisan Policy Center's Deficit Reduction Task Force. The budgets passed by the House of Representatives and the president's response are also considered. The paper goes on to describe the Budget Control Act passed after the debt limit debate of 2011.

Research Area

Campaigns, Proposals, and Reforms Federal Budget and Economy Federal budget Individual Taxes
To reuse content from the Tax Policy Center, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.

Meet the Experts

  • John L. Palmer
  • Rudolph G. Penner
    Institute Fellow
Research report

New Evidence on The Effect of The TCJA On the Housing Market

Robert McClelland, Livia Mucciolo, Safia Sayed
March 30, 2022
  • Donate Today
  • Topics
  • TaxVox Blog
  • Research & Commentary
  • Laws & Proposals
  • Model Estimates
  • Statistics
  • Privacy Policy
  • Newsletters
Twitter
Facebook
  • © Urban Institute, Brookings Institution, and individual authors, 2022.