Fiscal Policy With High Debt and Low Interest Rates
Gale argues that although historically low interest rates reduce the cost of government borrowing, they are not a "get out of jail free card." Rising debt will slowly but surely make it harder to grow the economy, boost living standards, respond to wars or recessions, address social needs, and maintain the nation’s role as a global leader.
The Hill Op-Ed: Emerging from the COVID-19 crisis as a better and more resilient society
Our nation is facing a once-in-a-generation challenge in the COVID-19 pandemic and associated economic crisis. These events will define us for decades to come, and we can only hope that we will be defined by the wisdom and courage of our response rather than by the failures that led us to this tragic place. It ...
Taskforce Report: Promoting Economic Recovery After COVID-19
This report puts forward a set of policies that should be part of the next wave of fiscal policy aimed at bolstering individuals and workers, small and mid-sized businesses, and state and local governments during a sustained recovery from the Covid-19 pandemic.
Washington Post Op-Ed: What a successful economic recovery plan must look like
It was good news that the economy added 2.5 million jobs last month. But we are still only one-tenth of the way to repairing the massive labor market damage caused by the novel coronavirus. The job growth was bolstered by massive governmental intervention, and most of the fiscal policies are coming to an end. In order to protect ...
Securing Our Economic Future
The Economic Strategy Group's third annual policy volume focuses on the economics of the middle class, geographic disparities in economic opportunity, and U.S. policy options to address climate change.
Securing Our Economic Future: Foreword
AESG co-chairs Hank Paulson and Erskine Bowles introduce the group's 2020 policy volume. The American economy is in the midst of a wrenching crisis, one caused by the COVID-19 pandemic, intensified by the worst social unrest in a generation, and aggravated further by a series of climate-driven natural disasters.
How much have childcare challenges slowed the US jobs market recovery?
The US economy lost a net of 8 million jobs between February 2020 and April 2021. Agreement is growing that people not actively seeking employment (inadequate labor supply) has been playing a major role in the slow recovery, as evidenced by factors including record job openings, the largest wage increases in decades, and other signs ...
13 Aspen Economic Strategy Group Reports related to the American Jobs and Families Plans
The Biden Administration’s American Jobs Plan and American Families Plan propose over $4.1 trillion in new government spending over the next 10 years, aiming to fundamentally reshape and expand the social safety net, increase the economy’s productive potential through investments in physical and human capital, and make major public investments in green infrastructure and technology. ...
14 Facts about US Investments in Infrastructure and R&D
Bipartisan support in Congress is emerging for new strategic investments in science and technology, in addition to a trillion-dollar infrastructure deal. These proposals reflect an emerging consensus that large-scale government investments are necessary to support the US economy’s transition to sustainable energy sources, address underlying sources of domestic inequality, and promote American economic competitiveness. In ...