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23min chapter
Marc Goldwein on the US Government Budget: Structure, Challenges, and Reform Strategies
Macro Musings with David Beckworth
US Government Budget Deficits: Structure and Components
This chapter discusses the structure and components of the US government budget deficits, highlighting programs like Social Security, Medicare, and defense. It explores the size of the deficits, their percentage of GDP, and the reasons behind their increase. The chapter also delves into concerns about inflation, the causes of inflation in the US economy, and the challenges faced by the federal government and the Federal Reserve in providing assistance during the COVID crisis.
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