Does Fiscal Policy History Rhyme?
Gridlock "means ever rising debt as a share of GDP, the prospect of economic turmoil, and lower living standards than otherwise for our children and grandchildren," writes G. William Hoagland.
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Gridlock "means ever rising debt as a share of GDP, the prospect of economic turmoil, and lower living standards than otherwise for our children and grandchildren," writes G. William Hoagland.
"Sound fiscal policy can make it easier for the Fed to bring inflation down without pushing the economy into a recession," writes Ben Ritz.
"Despite the harangue of the political class, for many Americans 'bipartisanship' is not a dirty word," writes Michael Steele.
There are many critical differences between our two nations, but are there lessons to be learned by US policymakers from the UK predicament?
https://www.pgpf.org/blog/2022/10/does-uk-crisis-hold-fiscal-economic-lessons-for-us-policymakers
The more important question for fiscal policy is what happens when monetary policy normalizes.
Financing the debt will become more burdensome now that interest rates have returned to their pre-pandemic levels.
“The writing on the wall couldn’t be any more clear: Social Security and Medicare remain on a dangerously unsustainable path," said Michael A. Peterson, CEO of the Peter G. Peterson Foundation.
“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.
Our high and rising debt is “a big burden placed on current citizens, based on our past budgetary irresponsibility,” said Michael Peterson, CEO of the Peter G. Peterson Foundation, in a recent appearance on C-SPAN’s Washington Journal.
With our economy in recovery, our debt rising unsustainably, and our nation still grappling with a devastating pandemic, America faces many critical questions for its future. Where do we go from here?