Ben Harris on the Fiscal Health of the US Government
Macro Musings with David Beckworth
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Navigating Fiscal Challenges and Debt Dynamics
This chapter reflects on the speaker's career transition from government roles to positions at the Brookings Institution, emphasizing their contributions to fiscal policies amid rising U.S. federal debt. The discussion critiques a new bill's potential to exacerbate deficits, analyzing the relationship between tax cuts, market behavior, and political decisions regarding fiscal responsibility. Additionally, it explores the implications of national debt dynamics in the U.S. and globally, highlighting risks associated with changing debt holders and potential triggers for a fiscal crisis.
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