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.
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 […]
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 […]
JASON FURMAN is Professor of the Practice of Economic Policy jointly at Harvard Kennedy School (HKS) and the Department of Economics at Harvard University. He is also nonresident senior fellow at the Peterson Institute for International Economics. This followed eight years as a top economic adviser to President Obama, including serving as the 28th Chairman […]
MAYA MACGUINEAS is the president of the bipartisan Committee for a Responsible Federal Budget. Her areas of expertise include budget, tax, and economic policy. As a leading budget expert for the past twenty years and a political independent, she has worked closely with members of both parties and serves as a trusted resource on Capitol […]
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 […]