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It’s Time to Hit the Reset Button on the Fiscal Debate

It’s Time to Hit the Reset Button on the Fiscal Debate

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Putting the federal budget onto a permanently sustainable path is still an important goal; that has not changed. But so much else has changed while the debate around these issues remains stagnant.
Putting the federal budget onto a permanently sustainable path is still an important goal; that has not changed. But so much else has changed while the debate around these issues remains stagnant.

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categoriesTypes, Research
Published by: Center for American Progress on Jun 05, 2013
Copyright:Attribution Non-commercial

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06/06/2013

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It’s Time to Hit the Reset Buttonon the Fiscal Debate
Michael Linden June 6, 2013
WWW.AMERICANPROGRESS.ORG
 O O /   J   C  Q U MI   
 
Its Time to Hit the ResetButton on the Fiscal Debate
Michael Linden June 6, 2013
 
1 Introduction and summary4 We have enacted a significant amount of deficit reduction,mostly through spending cuts9 Health care costs have slowed dramatically12 The long-term debt projections have alsoimproved substantially15 The key argument that high debt causes slower growthhas crumbled18 Austerity has failed21 The U.S. economy has not healed nearly as swiftly as wasprojected when the budget cuts began24 The push for immediate debt reduction has resulted insome very perverse policy outcomes27 Reversing the sequester and investing in growth32 Conclusion35 About the author36 Endnotes
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