This week on Uncommon Knowledge, author and former Senator James Buckley discusses the transformation of the federal government and the challenges we face after the 2012 election. (28:30)
“It is going to be an extraordinary challenge for [future generations] but there are certain realities that are going to be faced. If the debt goes off on the trajectory it is currently on, in terms of devastating, destroying the economic basis of the country my grandchildren are going to face problems that I never dreamed of and you never dreamed of. Nevertheless insofar as they pay any attention of any advice I might give them it would be you have responsibilities not only to yourself and your family but to the public.”
Edward Lazear, the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover Institution and former chairman of the President's Council of Economic Advisers, offers insight into the debt ceiling, the debt burdens of all taxpayers, how to encourage investment and growth, and why he believes more tax reform is necessary.
Richard Epstein the Peter and Kirsten Bedford Senior Fellow at the Hoover Institution, weighs in on the politics of the fiscal cliff and the fight over the debt ceiling. He considers the potential consequences of the nation's current debt crisis and wraps up with prescriptions to get the nation back on a sounder fiscal footing.
Edward Lazear, the Morris Arnold Cox Senior Fellow at the Hoover Institution and former chairman of the President's Council of Economic Advisers, offers insight into the debt ceiling, the debt burdens of all taxpayers, and the potential economic effects of no agreement.
Charles Blahous is a Hoover research fellow who currently serves as one of the two public trustees for the Social Security and Medicare Programs. He discusses the impact of the fiscal cliff deal, which increased the payroll tax, and how this affects the debt ceiling. Blahous also discusses Medicare reimbursements to doctors and the overall solvency of Social Security and Medicare.
Edward Lazear, the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover Institution and former chairman of the President's Council of Economic Advisers, offers insights into the current jobs’ numbers, noting that the US job creation is not able to keep pace with the growing population. Lazear noted four policy areas that would help economic growth: a tax code that is pro-growth; an increase in trade; getting spending under control; and looking at the cost benefit of regulations.
In this podcast Russell Roberts, a research fellow at the Hoover Institution and EconTalk host, discusses, with Casey Mulligan of the University of Chicago and the author of The Redistribution Recession, the ideas in his book. Mulligan argues that increasing the benefits to unemployed workers explains the depth of the Great Recession that began in 2007 and the slowness of the recovery, particularly in the labor market.
Twenty years ago, at a conference in Pittsburgh, Hoover fellow John Taylor first presented what is now called the Taylor rule (November 1992, Stanford working paper). Then it was difficult to predict those ideas that would be picked up by policy makers and those that would not; no one could have predicted in 1992 that the Fed and other central bankers would still be applying the rule in 2012. Today we know that the Taylor rule proliferated through academia to the trading floors of Wall Street and to the Federal Reserve's boardroom in Washington. Two decades later, the Taylor rule remains a focus for discussions of monetary policy around the world.
Richard Epstein, the Peter and Kirsten Bedford Senior Fellow at the Hoover Institution and a member of the John and Jean De Nault Task Force on Property Rights, Freedom, and Prosperity, notes that to step back from the fiscal cliff, we need to simplify our tax policy.