Category Archives: government debt crisis

Needed: A March for Fiscal Responsibility

John Cochrane writes, We live on the edge of a run on sovereign debt. The US has a shorter maturity structure than most other countries, and a greater problem of unresolved entitlements. Despite our “reserve currency” status, we may actually … Continue reading

Posted in government debt crisis | 13 Comments

Biggs’ BIG for Social Security

Andrew Biggs writes, Under the plan, Social Security would guarantee that all retirees, regardless of work history or earnings, are lifted out of poverty in old age. Thus, while Social Security currently offers no minimum benefit, a strong minimum benefit … Continue reading

Posted in Economic education and methods, government debt crisis | 8 Comments

The Fiscal Outlook

The Committee for a Responsible Federal Budget reports, CBO finds debt held by the public will roughly double as a share of the economy over the next three decades, rising from 77 percent in 2017 to 150 percent by 2047. … Continue reading

Posted in government debt crisis | 7 Comments

We are not Singapore

John Mauldin writes, Forty-one percent of Americans have no savings at all. An article in Forbes cites data that shows that just 37% of Americans have savings to cover an emergency that costs over $500. …Simply put, most Baby Boomers … Continue reading

Posted in government debt crisis | 8 Comments

Symposium on Low Interest Rates

From the Mercatus center. The contributions are not coordinated in any way. We wrote essays about causes, effects, predictions, …whatever we felt like, on the general subject of the implications of low interest rates and the potential for them to … Continue reading

Posted in government debt crisis, PSST and Macro | 6 Comments

If David Cutler were an Entrepreneur

He would buy a hospital. Let me explain. The IGM forum polled economists to see if they agreed with this statement: Long run fiscal sustainability in the US will require some combination of cuts in currently promised Medicare, Medicaid and … Continue reading

Posted in business economics, Economics of Health Care, government debt crisis | 3 Comments

Doug Elmendorf on the Debt

He writes, Together with Brookings Senior Fellow Louise Sheiner, I have analyzed alternative explanations for low Treasury rates and the implications of each for budget policy (Elmendorf and Sheiner, 2016). We found that most explanations imply that the country should … Continue reading

Posted in government debt crisis, Tyler Cowen is my Favorite Blogger | 11 Comments

Jason Collins reviews Jonathan Last

Collins writes, So, if government can’t make people have children they don’t want and can’t simply ship them in, Last asks if they could help people get the children they do want. As children go on to be taxpayers, government … Continue reading

Posted in books and book reviews, government debt crisis, Jason Collins is Indispensable | 21 Comments

The Bond Bubble

Balazs Csullag, Jon Danielsson, and Robert Macrae write, A rational buy-and-hold investor who trusts the central banks should not buy long-dated bonds. While a high degree of central bank credibility used to be important to bond holders, today this seems … Continue reading

Posted in government debt crisis, Mark Thoma is Indispensable | 14 Comments

Consolidating the Central Bank and the Treasury

Thomas Klitgaard and Harry Wheeler write, The discussion above offers up a perspective on what is meant by “monetizing debt.” This term refers to a central bank buying government bonds and promising to keep them on its balance sheet with … Continue reading

Posted in government debt crisis, Mark Thoma is Indispensable, Monetary Economics | 5 Comments