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Federal Budget and Economy

Paul Volcker Taught Us How Tax And Monetary Policy Can Work Together To Enhance Growth

December 16, 2019 –
The recent passing of former Federal Reserve Chair Paul Volcker serves as an important reminder of his critical role in ending stagflation in the late...
Federal Budget and Economy

CBO Predicts Historic Levels of Debt By Mid-Century

June 25, 2019 –
CBO Predicts Historic Levels of Debt By Mid-Century If the US continues today’s patterns of taxes and spending, the national debt will almost triple as...

Estimating the Impact of Fiscal Therapy Proposals

April 25, 2019 –
In my new book, Fiscal Therapy: Curing America’s Debt Addiction and Investing in the Future , I show how to reduce federal debt in 2050...
Federal Budget and Economy

The US Budget Imbalance Needs Fiscal Therapy

April 4, 2019 –
A few years ago, the Internet went wild over a photograph of a dress. Was it blue and black, or white and gold? Many people...

Congress In 2019: What’s Ahead For Fiscal Policy?

January 4, 2019 –
The return of divided government and the early stages of the next presidential election create enormous uncertainty about how 2019 will go. As Yogi Berra...
Federal Budget and Economy

What Would It Take For Congress To Bring The Federal Debt Down To Manageable Levels

August 22, 2018 –
Back in the presidential campaign, candidate Donald Trump promised to eliminate the national debt in eight years. This goal was never plausible, even before Congress...
Federal Budget and Economy

CBO’s Grim Budget Forecast Underestimates The Nation’s True Fiscal Problems

April 23, 2018 –
CBO recently released new budget projections that incorporate the 2017 tax act and the 2018 spending deals. In a new paper with Alan J. Auerbach,...
Federal Budget and Economy

Pete Peterson and Our Chaotic National Debates

April 3, 2018 –
Each person’s death gives us a moment to pause and ask what lessons their lives offer for us. Here is a lesson from the life...
Federal Budget and Economy

What Singapore and Germany Can Teach The US About Fiscal Policy

February 22, 2018 –
The US—with a projected 2018 federal budget deficit of 4 percent of Gross Domestic Product and an economy running at close to full employment-- just...
Campaigns, Proposals, and Reforms

The House Ways and Means Tax Bill Would Raise the National Debt to 123 percent of GDP by 2037

November 16, 2017 –
The Tax Policy Center estimates that the House Ways and Means Committee’s version of the Tax Cut and Jobs Act (TCJA) would increase the ratio...