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Perspectives on U.S. Fiscal Policy

Author

Listed:
  • Jeffrey Holland

    (Peter G. Peterson Foundation)

  • Edward Leamer

    (University of California at Los Angeles)

  • Alice Rivlin

    (The Brookings Institution)

Abstract

Under current policies the deficit may get to 7% of GDP in 10 years. Our political process is not coming to grips with responsible fiscal policy. We have both parties agreeing a deficit is a great way of attracting votes. Future increases in spending are coming from entitlements. We need incentives in health care to do things more efficiently and encourage competition. The biggest risk for the U.S. economy is the global bond market. We need to get moving. If not, eventually inflation, or a crisis of confidence, will be the wake-up call on the growth of U.S. debt.

Suggested Citation

  • Jeffrey Holland & Edward Leamer & Alice Rivlin, 2018. "Perspectives on U.S. Fiscal Policy," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 53(3), pages 124-133, July.
    • Handle: RePEc:pal:buseco:v:53:y:2018:i:3:d:10.1057_s11369-018-0083-3
    DOI: 10.1057/s11369-018-0083-3
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    Cited by:

    1. George Apostolakis & Gert Dijk, 2018. "Retirement concerns and planning of cooperative members: a study in the Dutch healthcare sector," Business Economics, Palgrave Macmillan;National Association for Business Economics, vol. 53(4), pages 209-224, October.

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