Brief A Radical Proposal for Escaping the Budget Vise
Rudolph G. Penner, C. Eugene Steuerle
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It's clearer by the day that fundamental, radical reform is needed to restore fiscal responsibility to the federal budget. Under current policy, spending grows automatically by default, faster than tax revenues as the population ages and health costs soar. These defaults are threatening the economy with large, unsustainable deficits. More important they deny to each generation the opportunity to orient government toward meeting current needs and its own preferences for services. This brief discusses some ways this might be achieved.
Research Areas Economic mobility and inequality Aging and retirement Taxes and budgets
Tags Social Security Fiscal policy Medicare and private health insurance Individual taxes Federal budget and economy Retirement policy