Tag: budget reform

Brian Riedl and Shai Akabas discuss the U.S. federal budget, budget negotiations, and why Congress hasn’t addressed the rising national debt—even as it gets worse.

The case for a “grand deal” on the budget has never been more evident: within a decade, annual budget deficits are projected to exceed $2 trillion. Entitlement programs are projected to drive trillions in new government debt over the next few decades. Yet increasing partisanship and political polarization—both in Washington and among voters—have significantly diminished the likelihood of bipartisan cooperation to avoid a fiscal calamity.

The state of the US economy in two words: “getting better.” That’s the learned opinion of John Taylor, the Hoover Institution’s George P. Shultz Senior Fellow in Economics and the Mary and Robert Raymond Professor of Economics at Stanford University. He forecasts continued growth thanks to the latest round of tax cuts and regulatory reform – and wishes Washington would address another of his proscribed principles of economic well-being: budget reform.