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Deficit debate.(Economics And Regulation)
Alice Rivlin and Isabel Sawhill, "Growing Deficits and Why They Matter," in Restoring Fiscal Sanity: How to Balance the Budget, Brookings Institution, January 2004 (brookings.org)
For most of the twentieth century, America has run budget deficits. Except for some brief periods during the economic booms of the 1920s, '50s, '60s, and '90s, the American government spent more money than it took in. Under Bill Clinton, a combination of tax increases, modest spending growth, and robust economic growth resulted in the most recent run of surpluses. Under George W. Bush, slower economic growth, coupled with tax cuts and increased spending on defense, homeland security, and education, has resulted in deficits that are the largest in history in dollar terms, but quite modest in comparison to the size of the economy.
Alice Rivlin, who held a variety of important positions in the Congressional Budget Office (CBO), the Clinton administration, and the Federal Reserve, and Isabel Sawhill, a think-tank economist, believe that the current deficits result from "trying to have it all: lower taxes and increased spending--for Social Security, Medicare, defense, homeland security, and many other programs."
Rivlin and Sawhill take a critical look at the official ten-year deficit projections from the CBO. These projections, they show, make a variety of rather dubious assumptions (like the expiration of tax provisions that Congress is almost certain to extend). Rather ...
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Alice M. Rivlin and Isabel Sawhill, Restoring Fiscal Sanity...security, domestic spending, and social security (aptly entitled the impact...revenues with baseline spending for Social Security, Medicare and Medicaid, defense...
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...Stuart Butler, vice president of The Heritage Foundation; Isabel Sawhill, senior fellow at The Brookings Institution; and David...the sky is falling. Growth of entitlement programs--Social Security, Medicaid, and Medicare--is predicted to increase steadily...
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...Americans now pay more in Social Security taxes than they do...revamping the entire Social Security system -- unlikely...provisions of tax law. Isabel Sawhill, a Brookings Institution...weakened, they warn, Social Security will become vulnerable...
- Official likens budget deficit to hurricane.
- News wire article from: Richmond Times-Dispatch (Richmond, VA) September 27, 2005 700+ words
...generation ages, the costs of Social Security, Medicare and the federal...as the boomers age, Social Security and Medicaid spending will...entitlement programs as Social Security and Medicare. Isabel Sawhill of the Brookings Institution...
- Brookings Public Forum Nov. 29: Domestic Policy in President Bush's Second Term.
- News wire article from: The America's Intelligence Wire November 23, 2004 700+ words
...Washington, D.C. Introduction: ISABEL SAWHILL, vice president and director, Economic...Studies, Brookings --- Panel One: Social Security PETER R. ORSZAG, senior fellow...president has talked about privatizing social security, tax reform and new tax cuts, and...
- Panel warns of looming fiscal crisis.
- Newspaper article from: Finance and Commerce Daily Newspaper, MN October 21, 2005 700+ words
...over by 2040 for Social Security and other programs...joined on the panel by Isabel Sawhill of the Brookings...pointed out that fixing Social Security, which accounts...bigger problem than Social Security," said Sawhill...
- Washington Leaders Again Consider Impact of Deficits on Economic Growth.
- Newspaper article from: Knight Ridder/Tribune Business News February 12, 2002 700+ words
...congressional elections. Isabel Sawhill of the Brookings Institution...subjects like the recession, Social Security and Medicare. "The Democrats...argue that Bush is using Social Security to pay for tax cuts and...their most potent issue, Social Security, in arguing ...
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...By Alice M. Rivlin and Isabel Sawhill, eds. 2005. Washington...put enormous pressure on Social Security, Medicare, Medicaid...national income going to Social Security, Medicare, and Medicaid...the annual reports of the Social Security and Medicare trustees already...
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- Magazine article from: The American Prospect Kuttner, Robert September 1, 2008 700+ words
...for programs like Social Security and Medicare...about Medicare and Social Security, adding the national...privatizing both Social Security and Medicare. In...collaborated with Isabel Sawhill of Brookings on a...
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- Newspaper article from: Chicago Tribune (Chicago, IL) February 5, 2007 700+ words
...entitlement programs like Social Security, Medicare and Medicaid...renew his plea for Social Security private accounts...or so. Last week Isabel Sawhill from Brookings and...decade. Currently, Social Security, Medicare and Medicaid...
Source: HighBeam Research, Deficit debate.(Economics And Regulation)