#Fiscal Responsibility

Download the pdf: Social-Security-Replacement-Rates_Nudging-in-the-Wrong-Direction.pdf Introduction Social Security reform is both necessary and urgent, yet Congress remains reluctant to act.[1] This political inertia is primarily the result of two factors. First, the combined Social Security trust funds (OASDI) are projected to remain…

Introduction With inflation rising and economic growth slowing, the Federal Reserve (Fed) faces the difficult task of curbing inflation without causing a recession. The Fed fights inflation with higher interest rates which reduce the demand for goods and services.…

On March 28, President Biden released his budget proposal for the upcoming 2023 fiscal year. Though it has little chance of being enacted in its entirety, the plan will shape the contours of the final spending and revenue policies…

Introduction After nearly four decades of a consistently downward trend, the consumer price index (CPI) in 2021 increased at the fastest rate since 1982, marking a clear reversal of the previous trend.[1] Although various economic disruptions related to the…

Part 3: Elderly and Disabled Introduction President Biden’s FY 2022 budget proposes to spend nearly $1.7 trillion over the next ten years on several new or expanded entitlement programs for children, college students, the elderly, and the disabled.  The budget…

Part 1: Children Introduction President Biden’s FY 2022 budget proposes to spend nearly $1.7 trillion over the next ten years on several new or expanded entitlement programs for children, college students, the elderly, and the disabled. The budget also contains…

Introduction As debate in Washington continues over how (or whether) to pay for the latest infrastructure plan, someone will inevitably claim it will pay for itself. (1) Such optimism reflects the belief that government spending creates jobs and grows…