Fiscal and Monetary Policy Work Best Together
High inflation breeds instability, raising the risk of both higher interest rates and recession.
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High inflation breeds instability, raising the risk of both higher interest rates and recession.
We can’t return to the low-inflation, low-interest rate world; we can only go forward through the wormhole the pandemic opened.
Inflation and interest rates will have important impacts on the long-term federal budget outlook.
Debt will continue to accumulate unless reforms are undertaken.
“This is an example of how our leaders can pay for their priorities, whatever they may be, while helping to improve America’s fiscal and economic future at the same time," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
The Social Security and Medicare Trustees released their annual reports, which show that these vital programs are on an unsustainable path.
https://www.pgpf.org/blog/2022/06/five-charts-about-the-future-of-social-security-and-medicare
The top 20 percent of income earners receive over half the value of major tax expenditures.
https://www.pgpf.org/Chart-Archive/0199_distribution_tax_expenditures
“The most important takeaway from today’s CBO report is that interest costs are higher, adding to an already unsustainable fiscal outlook," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
While nearly all Americans pay taxes, the composition of the type of taxes paid is very different for taxpayers at various points in the income distribution.
https://www.pgpf.org/blog/2020/07/how-does-the-tax-system-work
As a share of GDP, the U.S. corporate income tax revenue is the lowest among G7 countries.