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#1623. Mai 2024
Will Economic Growth Be Short-Lived as Fiscal Challenges Abound?
Blog: Cato at Liberty
Lower interest rate sensitivity in the market and economic tailwinds are largely temporary, hiding the debt drag beneath the surface.
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#1723. Mai 2024
Emergency Spending and the Erosion of Congressional Fiscal Norms
Blog: Cato at Liberty
How do you know when you've gone off the cliff? It's when you're dropping really fast.
Blogbeitrag
#187. Mai 2024
Fast Facts about Social Security
Blog: Cato at Liberty
Without reforms, Social Security will become insolvent by 2033.
Blogbeitrag
#192. Mai 2024
Fast Facts about Emergency Spending
Blog: Cato at Liberty
Congress is increasingly abusing emergency designations, which were originally intended to provide a safety valve for responding to urgent and unexpected crises, to evade spending limits. Over the last three decades, one in every ten dollars of federal spending has been exempted from normal budget controls through emergency‐related designations.
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#2025. April 2024
Including Emergency Spending in Fiscal Projections Distorts the CBO Baseline
Blog: Cato at Liberty
The United States cannot afford to continue recklessly high levels of deficit spending given our current fiscal trajectory. A baseline change that accurately reflects the nature of emergency spending is a critical step in this direction. Curbing this and other abuses of emergency spending should be a bipartisan priority.
Blogbeitrag
#2118. April 2024
WWII's Impact: The Birth of Europe's Extensive Welfare System
Blog: Cato at Liberty
Had it not been for the extraordinary devastation brought on by the war, the modern European welfare state might look very different today. The US would be wise not to go down a similar path.
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#229. April 2024
The High Cost of War: Ukraine Aid Could Top $240 Billion
Blog: Cato at Liberty
The bottom line: Congress should offset additional deficit spending, including for domestic and foreign emergencies.
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#234. April 2024
The Threat of Fiscal Dominance: Will the US Resort to Money-Printing to Finance the Rising Debt Challenge?
Blog: Cato at Liberty
Confronting the entitlement spending behemoth is politically daunting but necessary and can be done through a well‐designed fiscal commission. Establishing smart fiscal guardrails, backed by a shared understanding of the budgetary future the US faces, can similarly reduce the risk of a fiscal crisis.
Blogbeitrag
#241. April 2024
America in Debt: Remarks at the Coolidge Foundation Conference
Blog: Cato at Liberty
Reclaiming spending control by empowering a BRAC‐like fiscal commission.
Blogbeitrag
#2521. März 2024
CBO Warns of Fiscal Crisis in Long-Term Budget Outlook
Blog: Cato at Liberty
The Congressional Budget Office's latest 30‐year budget projections forecast rising debt, deficits, and interest costs, which will undermine US investment and economic growth and hurt American incomes. Rising spending on old‐age entitlement programs, primarily Medicare and Social Security, is mostly to blame. Legislators must act to achieve a sustainable budget policy and avert a future fiscal catastrophe.
Blogbeitrag
#2620. März 2024
Medicare and Social Security Are Responsible for 100 Percent of US Unfunded Obligations
Blog: Cato at Liberty
Medicare and Social Security funding shortfalls comprise 100 percent of the total unfunded obligation.
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#2713. März 2024
The Fiscal State of the Nation: Testimony
Blog: Cato at Liberty
Current fiscal projections threaten Americans with higher taxes, reduced economic growth, higher interest rates, stifling inflation, and the tail risk of a severe fiscal crisis that exacerbates all these issues.
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#287. März 2024
The Price of Shortsightedness: Emergency Spending's $2 Trillion Interest Tab
Blog: Cato at Liberty
Over the past 30 years, we estimate that emergency spending has generated almost $2 trillion in interest costs. Congress should reject the allure of costly, short‐term budget thinking and offset new emergency spending.
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#2929. Februar 2024
New Emergency Spending Would Cost $28-$41 Billion More Than Incomplete Budget Score Suggests
Blog: Cato at Liberty
Without commonsense reforms, Congress is likely to continue to abuse emergency spending at the expense of the nation's fiscal health.
Blogbeitrag
#3022. Februar 2024
Responding to Critiques of the Congressional Fiscal Commission
Blog: Cato at Liberty
The US budget is highly unsustainable, and a well‐designed fiscal commission offers the greatest promise for overcoming the congressional gridlock and unproductive partisanship that has stifled reasonable reform options thus far.