Testimony Defining Our Long-Term Fiscal Challenges (Reischauer)
Subtitle
Testimony Before the U.S. Senate Budget Committee
Robert D. Reischauer
Display Date
File
File
Download Report
(91.18 KB)

The recent fiscal situation and the intermediate-term budget outlook may appear relatively benign, Urban Institute President Robert Reischauer told the Senate Budget Committee, but deficits and debt will gradually grow to unprecedented and unsustainable levels if current tax and spending policies are not altered significantly. "The challenge we face," he said, "is determining how to balance our desire for improved health against our other priorities. We cannot have it all and ask our children and grandchildren to pick up the tab." The longer policymakers wait to act, the more wrenching the adjustments will have to be.
Research Areas Economic mobility and inequality Health and health care Aging and retirement Taxes and budgets
Tags Social Security Fiscal policy Health insurance Economic well-being Medicaid and the Children’s Health Insurance Program  Medicare Medicare and private health insurance Individual taxes Federal budget and economy Retirement policy