Fiscal Policy Initiative

The United States is at a crossroads. Decades of unchecked government spending and borrowing have pushed federal debt beyond 100 percent of GDP, with projections indicating a rise to 150 percent within 30 years. Annual deficits now approach $2 trillion, and unfunded entitlement liabilities exceed $73 trillion. These alarming trends threaten not only long-term economic growth but also the prosperity of future generations. Rising debt crowds out private investment, slows productivity, and increases the cost of vital public services. Without intervention, the growing burden of interest payments will further erode America’s fiscal flexibility, jeopardizing the nation’s ability to invest in defense, infrastructure, and education.

The Hoover Institution’s Fiscal Policy Initiative is dedicated to addressing these urgent challenges. Its work spans a wide range of issues critical to restoring long-term fiscal health, including entitlement reform, tax policy, and the economic consequences of sustained federal borrowing. With the federal budget on an unsustainable path, the Initiative provides rigorous, policy-relevant research and actionable recommendations to help lawmakers confront today’s fiscal realities. It focuses on three core objectives:

Research Initiatives: Hoover scholars conduct analyses on taxation, government spending, entitlement programs, and fiscal sustainability. This research helps assess the economic effects of current policies and provides insights into potential reforms.

Policy Development: The Initiative develops and promotes practical, pro-growth fiscal reforms that balance economic opportunity with long-term financial responsibility. This includes proposals on tax policy, Social Security and Medicare reform, debt management, and federal budget restructuring.

Public Engagement & Education: The Initiative seeks to inform policymakers, the media, and the public about the economic consequences of rising debt and unsustainable spending. Through white papers, policy briefs, op-eds, podcasts, and events, it aims to foster a well-informed debate on fiscal responsibility.

For decades, the Hoover Institution has been at the forefront of fiscal research and reform, producing credible, impactful scholarship on taxation, entitlement programs, and economic growth. The Fiscal Policy Initiative builds on this legacy, emphasizing the urgent need to address America’s fiscal challenges to preserve opportunity, innovation, and prosperity for generations to come.

By advancing research-driven solutions, the Hoover Fiscal Policy Initiative seeks to ensure that policymakers and the public are equipped to confront America’s fiscal challenges and secure long-term prosperity.