Opportunities for Bipartisan Fiscal Policy in 2023
"Sound fiscal policy can make it easier for the Fed to bring inflation down without pushing the economy into a recession," writes Ben Ritz.
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"Sound fiscal policy can make it easier for the Fed to bring inflation down without pushing the economy into a recession," writes Ben Ritz.
This is the moment to strengthen the social insurance system and to enact an ambitious federal investment package, while raising tax revenue and cutting back on spending in ways that would largely offset those costs.
The coronavirus (COVID-19) pandemic is an unprecedented national emergency requiring a significant federal response. This page provides resources and analysis, tracking the actions our leaders are taking to respond, and providing insights on the state of America’s fiscal and economic outlook during the recovery.
Each year, some of the revenue the federal government collects comes from various taxes. In 2012, taxpayers paid almost $2.5 trillion, which the government used to partially fund $3.5 trillion worth of spending on Social Security, health care, and other programs in areas such as defense and education. The remainder of spending was funded through deficits.
The third session in the Peter G. Peterson Foundation Economic Forum’s series Restoring Our Economy Post-Pandemic Pandemic analyzed the unprecedented effects that this crisis has had on our economy, against the backdrop of the 2020 election.
Putting our economy on a path to recovery continue to be the most pressing priorities for our nation. At the same time, our fiscal outlook has worsened considerably.
Strengthened automatic fiscal stabilizers would enable fiscal stimulus to arrive in a more predictable and efficient manner.
High inflation breeds instability, raising the risk of both higher interest rates and recession.
The Foundation engages in a wide range of activities to educate and engage Americans, and raise awareness of the fiscal and economic challenges facing our nation.
https://www.pgpf.org/what-we-are-doing/education-and-awareness
Jared Bernstein of CBPP & Scott Winship of the Manhattan Institute consider the most effective role government can play in achieving socioeconomic goals.