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.
Adam Looney (University of Utah), Jeff Larrimore (Federal Reserve Board), and David Splinter (Joint Committee on Taxation) provide an in-depth analysis of after tax and transfer incomes of middle-class Americans over time.
A national debate about the strength and fairness of American capitalism is taking place against a backdrop of vast levels of income and wealth inequality, growing pessimism about the state of economic opportunity and mobility, increased market concentration in many sectors, and a precarious fiscal situation.
MITCHELL E. DANIELS, Jr. is the 12th president of Purdue University and the former governor of Indiana. He was elected Indiana’s 49th governor in 2004 in his first bid for any elected office, and then re-elected in 2008 with more votes than any candidate for any office in the state’s history. During his tenure, Indiana […]