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Introduction: Maintaining the Strength of American Capitalism

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.

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.

Introduction: Rebuilding the Post-Pandemic Economy

The COVID-19 pandemic plunged the US economy into recession, challenged the survival of millions of businesses, and threatened the economic security of American households. The recession officially lasted only two months, ending in April 2020, but looming economic challenges remain and the path of the post-pandemic recovery is uncertain. The US labor market recovery is ...

Will Population Aging Push Us over a Fiscal Cliff?

The share of the US population age 65 and older is rising dramatically. In the year 2000, 12 percent of the population was over age 65; by 2050 that share will be 22 percent. Much of that aging has already occurred: in 2022, just over 17 percent of Americans are retirement age. Population aging is ...

IN BRIEF: Cutting the Safety Net Is Not an Effective Way to Reduce Government Spending

BRIEFLY… High-stakes negotiations over the debt limit center on ways to bring government spending more in line with government revenues. The political contours of the debate have excluded cuts to Social Security and Medicare from consideration, as well as the possibility of raising taxes. With these options off the table, much of what is left ...