Choosing the Nation's Fiscal Future

Testimony

Choosing the Nation's Fiscal Future

Hearing before the Senate Budget Committee U.S. Congress
February 15, 2010

Abstract

Today's federal budget policies are unsustainable. Three programs - Social Security, Medicare, and Medicaid - constitute more than 40 percent of spending other than interest in a normal year and all are growing faster than the economy and tax revenues. At the same time, Congress has kept the overall tax burden remarkably constant as a share of gross domestic product for most of the past 50 years. The combination of these factors leads to a growing deficit. This testimony, by a former Congressional Budget Office director, discusses four policy packages that would return the United States to a sustainable budget.

To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.

LATEST IN Economic Growth and Productivity

To reuse content from Urban Institute, visit copyright.com, search for the publications, choose from a list of licenses, and complete the transaction.