A Meteor Shower: Inflation in a Post-Pandemic World
We can’t return to the low-inflation, low-interest rate world; we can only go forward through the wormhole the pandemic opened.
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We can’t return to the low-inflation, low-interest rate world; we can only go forward through the wormhole the pandemic opened.
"When it comes time to start looking under the sofa cushions for savings, Congress should treat direct spending and tax expenditures equally," writes Betsey Stevenson.
One of the largest drivers of that rising debt is federal spending on major healthcare programs, such as Medicare and Medicaid.
"Despite the harangue of the political class, for many Americans 'bipartisanship' is not a dirty word," writes Michael Steele.
Federal debt will rise to 144 percent of GDP within 30 years — far exceeding its all-time high, and nearly doubling today's level.
https://www.pgpf.org/analysis/2019/06/cbo-warns-historic-debt-levels-pose-substantial-risks
Lower levels of debt allow governments to respond more effectively to a recession or financial crisis.
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for October 2022.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-october-2022
These charts tell the fiscal story of 2021 — looking back at how our fiscal situation deteriorated over the past year and what challenges lie ahead.
The new numbers demonstrate the severe economic damage and significant fiscal implications of this unprecedented crisis.
PGPF, Clinton Global Initiative University (CGI U), Net Impact announced "Up To Us," an innovative, year-long campus competition that will engage college students across the country in addressing America's fiscal and economic challenges.
https://www.pgpf.org/pgpf-programs-and-projects/up-to-us-campus-competition