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Fiscal Crisis Ahead.pdf

1001291-Here-Comes-the-Next-Fiscal-Crisis.pdf

🔗 Source: taxpolicycenter.org

📊 Size: 94 KB

👤 Author: Alan J. Auerbach, William G. Gale

⬇️ Downloads: 90

Summary

its worst recession since the Depression and a growing imbalance between federal spending and revenues, making its underlying fiscal policy unsustainable. The projected federal budget deficit is $1.7 trillion in 2009, with federal revenues expected to fall short of spending over the next decade, and the national debt accumulating rapidly. The rapid growth of entitlement programs, such as Social Security, Medicare, and Medicaid, will lead to even larger deficits and faster debt accumulation, potentially signaling impending fiscal collapse. Policymakers will need to make difficult choices, including healthcare reform, spending cuts, and tax increases, to establish fiscal sustainability while encouraging economic recovery.

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Description

its worst recession since the Depression and a growing imbalance between federal spending and revenues, making its underlying fiscal policy unsustainable.

Technical Information

File Format: PDF
File Size: 94 KB
Pages: 2
Language: EN
Author: Alan J. Auerbach, William G. Gale
Total Downloads: 90
Last Updated: 1 week ago

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This PDF document about Fiscal Crisis Ahead provides comprehensive information and guidance. Whether you're a beginner or advanced user, this resource offers valuable insights into Fiscal Crisis Ahead.