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A new report, prepared by Macroeconomic Advisers for the Peter G. Peterson Foundation, finds that while our national debt is on a dangerously unsustainable path, gradual fiscal restraint can be paired with monetary accommodation to achieve significant macroeconomic benefits.
The analysis demonstrates clearly that there are pathways to solving our long-term fiscal challenges without jeopardizing economic growth. By making gradual changes to federal spending and revenue, lawmakers can not only stabilize our fiscal outlook, but provide long-run economic benefits for American families (in terms of real GNP growth) without inflicting undue damage on the U.S. economy in the near term.
Top-level findings include:
About Macroeconomic Advisers
Macroeconomic Advisers is a leading independent research firm focused on the U.S. economic outlook and macroeconomic policy. The firm combines rigorous analytical methods with an unmatched understanding of how monetary and fiscal policies are conducted, offering unbiased and thoughtful analysis of where the U.S. economy is headed, and why. To learn more, please visit www.macroadvisers.com.
About the Peter G. Peterson Foundation
The Peter G. Peterson Foundation is a nonprofit, nonpartisan organization that is dedicated to increasing public awareness of the nature and urgency of key fiscal challenges threatening America's future, and to accelerating action on them. To address these challenges successfully, we work to bring Americans together to find and implement sensible, long-term solutions that transcend age, party lines and ideological divides in order to achieve real results. To learn more, please visit www.pgpf.org.