What is the single most important thing that can be done to fix the U.S. budget deficit? Harvard economist Jeff Miron says the answer is clear: cut entitlements. Miron explains that as currently structured, the costs of Medicare, Medicaid, and Social Security will continue to grow rapidly, eclipsing all other U.S. spending in the next […]
Is Social Security bankrupt? According to Prof. Anthony Davies, it isn’t bankrupt yet, but it will be soon. Davies warns that as a simple matter of mathematics, the current system is unsustainable. To see the timeline in greater detail, visit: http://www.antolin-davies.com/conventionalwisdom/isssbankrupt.pdf
Economist Jeffrey Miron of Harvard University outlines three policy reforms that he thinks would promote economic recovery and growth in the United States: cutting entitlements, freezing regulation, and replacing the existing tax code with a flat tax on consumption.
Economics professor Antony Davies illustrates the size the U.S. federal government’s debt and unfunded obligations. He breaks down U.S. debt and obligations into constituent parts and compares them with the size of the GDP of countries around the world, showing the magnitude of America’s fiscal situation. For more details on the total federal debt, start […]