Fiscal Policy


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The Taming of the Debt

by Martin Feldsteinvia Hoover Digest
Monday, July 9, 2018

How to contain the growth of Medicare and Social Security without cutting benefits.

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How to Fend Off Collapse

by Michael J. Boskin, John H. Cochrane , John F. Cogan, George P. Shultz, John B. Taylorvia Hoover Digest
Monday, July 9, 2018

The federal budget’s chilling forecast: annual deficits of a trillion dollars or more.


The Social Security Trust Fund Goes Bust

by Charles Blahousvia The Wall Street Journal
Thursday, June 7, 2018

[Subscription Required] The downward spirals have begun. The combined Social Security trust funds—one for disability, one for retirement—as well as Medicare's hospital-insurance trust fund, will begin eating into their reserves this year, according to reports released this week by the programs' trustees.

In the News

Why Stocks Can’t Wait For The Midterms To Be Over

quoting Steven J. Davisvia The Wall Street Journal
Sunday, May 6, 2018

[Subscription Required] The stock market is likely to struggle between now and the Nov. 6 midterm elections.

Policy Seminar with Luigi Zingales

Thursday, April 26, 2018
George Shultz Conference Room

Luigi Zingales, the Robert C. McCormack Distinguished Service Professor of Entrepreneurship and Finance at the University of Chicago Booth School of Business, gave a talk on “the Financial Crisis Ten Years On.”


Policy Seminar with Michael Bordo

Wednesday, April 25, 2018
Annenberg Conference Room
Michael Bordo, Board of Governors Professor of Economics and Director of the Center for Monetary and Financial History at Rutgers University, New Brunswick, New Jersey, gave a talk on “An Historical Perspective on the Quest for Financial Stability and the Monetary Policy Regime.”
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California Saving

by Joshua D. Rauhvia Hoover Digest
Friday, April 20, 2018

California can wake up from its public-pension nightmare. The key: getting rid of ruinous defined-benefit plans.

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The Can’t-Do State

by Michael J. Boskinvia Hoover Digest
Friday, April 20, 2018

The Golden State may remain a land of great strengths, but it suffers from political inertia. Who will defy the entrenched interests?



by John H. Cochrane via Grumpy Economist
Friday, April 6, 2018

Economists delight in unravelings -- behavioral responses that undo bright ideas. A subsidy for skunks produces cats with white stripes. Two good ones came up this week.

In the News

Conservative Economists Turning Back To Debt Hysteria

featuring Michael J. Boskin, John H. Cochrane , John F. Cogan, George P. Shultz, John B. Taylorvia New York Magazine
Thursday, March 29, 2018

It is a foundational belief of Republican Party doctrine that tax cuts cannot have any adverse impact on the national debt. Indeed, Republicans have invented a new language in which budget deficit does not actually mean the difference between revenue and outlay at all. It is a term used exclusively to express panic over social spending.


Economic Policy Working Group

The Working Group on Economic Policy brings together experts on economic and financial policy to study key developments in the U.S. and global economies, examine their interactions, and develop specific policy proposals.

Milton and Rose Friedman: An Uncommon Couple