Does Fiscal Policy History Rhyme?
Gridlock "means ever rising debt as a share of GDP, the prospect of economic turmoil, and lower living standards than otherwise for our children and grandchildren," writes G. William Hoagland.
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Gridlock "means ever rising debt as a share of GDP, the prospect of economic turmoil, and lower living standards than otherwise for our children and grandchildren," writes G. William Hoagland.
Two of America’s top economists said Monday that while the U.S. faces a complex mix of fiscal and economic challenges, they don’t see an immediate threat of recession.
The Federal Reserve owns nearly one-third of domestically held debt.
https://www.pgpf.org/chart-archive/0312_domestic_debt_holders
A large, comprehensive plan that addresses our long-term structural deficits is clearly the best way forward for America’s future economy. However, more modest proposals, which would begin to take meaningful steps towards putting our debt on a sustainable path, would also be worthwhile.
https://www.pgpf.org/budget-basics/budget-conference-committee-fiscal-options-are-available
Every month the U.S. Treasury releases data on the federal budget, including the current deficit. Here is the data for September 2021.
https://www.pgpf.org/the-current-federal-budget-deficit/budget-deficit-september-2021
Income growth since 1979 is larger for high-income earners, even when including transfers and taxes.
https://www.pgpf.org/chart-archive/0059_income-growth-disparity
Between 1979 and 2016, income increased more quickly for high-income earners.
https://www.pgpf.org/chart-archive/0060_income-disparity-before-transfers-taxes
The population of the United States is aging rapidly. Soon we will be a nation of Floridas.