Category Archives: government debt crisis

The CBO gets worse

John Taylor writes, The second CBO procedural change was to discontinue the use of the “alternative fiscal scenario” in the long-term projections There is more at the link. I think that CBO modeling is way over-rated and biased toward interventionist … Continue reading

Posted in Economic education and methods, government debt crisis | 2 Comments

Is Illinois the trailer for the debt movie?

I assume you have been following the story. Illinois is now grappling with $15 billion of unpaid bills and an unthinkable quarter-trillion dollars owed to public employees when they retire. This would be the third year in a row that … Continue reading

Posted in government debt crisis | 15 Comments

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