Last night, the Center’s executive director, Robert Greenstein, received the 2010 Daniel Patrick Moynihan Prize, from the American Academy of Political and Social Science “to honor those whose careers in the academic or public arena have been dedicated to the use of social science research to improve public policy.” Daniel Patrick Moynihan was U.S. Senator from New York, U.S. Ambassador to the United Nations, official in four presidential administrations, Harvard professor, prolific author, and leading public intellectual on a wide range of domestic and international issues.
BEYOND THE NUMBERS
Has the Congressional Budget Office (CBO) just upped its cost estimate for the new health care law by $115 billion, as several media outlets are reporting? Not at all.
This Q & A is part five in a series on myths about health reform and its impact on the federal budget deficit with Jim Horney, our director of federal fiscal policy.
This Q & A is part four in a series on myths about health reform and its impact on the federal budget deficit with Jim Horney, our director of federal fiscal policy.
Following up our post yesterday about the Peterson Foundation’s National Fiscal Summit, here’s a bit of what the Center’s executive director, Robert Greenstein, had to say:
If we continue current policies, the federal debt will skyrocket to almost three times the existing record by 2050. That’s from 53 percent of the gross domestic product (GDP) at the end of fiscal year 2009 to more than 300 percent of GDP in 2050. The existing record was set when the debt reached 110 percent of GDP at the end of World War II.
Kudos to the Wall Street Journal’s Gerald Seib for noting in his Capital Journal column today that the country has a major fiscal problem that demands a serious, bipartisan, and balanced policy response. I agree and commend him for the piece.
In this context, here are a few more things to keep in mind on the tax side:
Those who seek a crisp primer on why experts worry about rising deficits and debt should look no further than this morning’s testimony before the President’s fiscal commission by Robert Reischauer, the former Congressional Budget Office director and a member of the Center’s Board of Directors.
With the President’s new fiscal commission having its first meeting this morning, here are three basic points concerning the coming debate over our nation’s budget priorities.