The American economic system has always been the foundation of our national strength. But this foundation is showing cracks—from high levels of income inequality, declining economic mobility, and persistent economic insecurity among low- and middle-income Americans.
The federal government’s fiscal and monetary responses to the economic crisis caused by the COVID-19 pandemic have been unprecedented. However, we argue that as many of the enacted fiscal measures begin to expire over the next two months, continued policy action will be needed to promote economic recovery. This report puts forward a set of […]
Overview: The U.S. budget trajectory is in uncharted territory. The country faces a structural deficit, accrued the largest increase in debt on record during the current economic recovery, and is expected to surpass its WWII-era debt-to-GDP record of 106 percent within the next 30 years. Gale argues that although historically low interest rates reduce the […]
Overview: Batchelder and Kamin argue the United States must raise new revenue in order to reduce high levels of economic disparity, finance much-needed new services and investments, and address the nation’s long-term fiscal needs They present a range of options that would raise tax revenue and increase the progressivity of the federal tax system. Policymakers […]
N. GREGORY MANKIW is the Robert M. Beren Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and the Massachusetts Institute of Technology. As a teacher, he has taught macroeconomics, microeconomics, statistics, and principles of economics. He even spent one summer long ago as a sailing instructor on Long […]
WILLIAM SPRIGGS is a professor in, and former chair of, the Department of Economics at Howard University and serves as chief economist to the AFL-CIO. In his role with the AFL-CIO he chairs the Economic Policy Working Group for the Trade Union Advisory Committee to the OECD and serves on the board of the National […]
BRIAN DEESE is global head of Sustainable Investing at BlackRock, Inc. He is formerly a senior fellow at the Mossavar-Rahmani Center for Business and Government at the Harvard Kennedy School. He was a senior advisor to President Barack Obama, overseeing climate, conservation, and energy policy and advising the president on a range of domestic and […]