Summary of Once More Unto the Breach
The Deteriorating Fiscal Outlook
Brookings Institution, 2016
The US’s long-term budget scenario is unsustainable, and the nation’s economic future is at risk.
The US economic recovery, along with declines in health care spending projections, had produced some positive gains in the country’s fiscal outlook. By early 2016, alas, this dynamic turned negative, and now long-term forecasts are increasingly disturbing. Economic and policy professionals Alan J. Auerbach and William G. Gale compellingly articulate the case that the United States faces severe future fiscal instability. getAbstract recommends this eye-opening report to anyone interested in the health and vibrancy of the US economy over the coming decades.
In this summary, you will learn
- What the United States’ fiscal position will look like in coming years, and
- What policy prescriptions are necessary to reduce debt and deficits.
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