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4 edition of Fiscal challenges and the economy in the long term found in the catalog.

Fiscal challenges and the economy in the long term

United States. Congress. House. Committee on the Budget.

Fiscal challenges and the economy in the long term

hearing before the Committee on the Budget, House of Representatives, One Hundred Tenth Congress, first session, hearing held in Washington, DC, February 28, 2007.

by United States. Congress. House. Committee on the Budget.

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  • 7 Currently reading

Published by U.S. G.P.O., For sale by the Supt. of Docs., U.S. G.P.O. in Washington .
Written in English

    Subjects:
  • Economic forecasting -- United States,
  • Government spending policy -- United States,
  • United States -- Economic conditions -- Forecasting

  • The Physical Object
    Paginationiii, 50 p. :
    Number of Pages50
    ID Numbers
    Open LibraryOL14560287M
    ISBN 100160785022
    ISBN 109780160785023
    LC Control Number2007414492
    OCLC/WorldCa124047497

    Prologue: The increasing number of elderly people in the U.S. population poses a variety of public policy challenges. Not the least among them is the implementation of a strategy that provides long Cited by: 6. 1 day ago  America's Long-Term Debt Crisis Is Now a Short-Term Problem Even in a healthy economy, rising debt and deficits posed challenges. The current crisis has magnified those problems.


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Fiscal challenges and the economy in the long term by United States. Congress. House. Committee on the Budget. Download PDF EPUB FB2

Moreover, it is important to recognize that the fiscal challenges faced by the PA, coupled with a protracted stalemate in the political process, have negative impacts not only on short term economic growth, but also the competitiveness of the Palestinian economy over the longer term.

Ben S Bernanke: Long-term fiscal challenges and the economy Testimony by Mr Ben S Bernanke, Chairman of the Board of Governors of the US Federal Reserve System, before the Committee on the Budget, US House of Representatives, Washington DC, 28 February * * *.

Second, the annual budget deficit reflects only near-term financing needs and does not capture long-term fiscal imbalances. As the most difficult long-term budgetary issues are associated with the growth of entitlement spending, a comprehensive approach to budgeting would include close attention to measures of the long-term solvency of entitlement programs, such as long-horizon present values.

Get this from a library. Fiscal challenges and the economy in the long term: hearing before the Committee on the Budget, House of Representatives, One Hundred Tenth Congress, first session, hearing held in Washington, DC, Febru [United.

Economic Challenge. America’s fiscal health and economic strength are closely linked. A strong fiscal foundation creates conditions that encourage economic growth: an environment with greater access to capital, increased public and private investments, enhanced business and.

The Economic Effects of Long-Term Fiscal Discipline William G. Gale Peter R. Orszag Discussion Paper No. 8 April William G.

Gale is the Arjay and Frances Fearing Miller Chair in Federal Economic Policy at the Brookings Institution. Peter R. Orszag is the Joseph A. Pechman Senior Fellow at the Brookings Institution. The topic of this conference “Fiscal and Monetary Policy Challenges in the Short and Long Run” is an evergreen.

But this time it was particularly well chosen: the recent crisis has brought monetary and fiscal policy to the centre of attention. It has become apparent that they can be important instruments to. The increased flexibility of the new economy argues against trying to use fiscal policy for stabilization and creates both immediate and long-term difficulties for monetary policy.

Immediate difficulties concern the problems associated with estimating potential output when the productivity trend. Advanced economy challenges The immediate fiscal task among the advanced countries is to credibly reduce deficits and debts to sustainable levels, while remaining consistent with achieving the economy's long-term growth potential and reducing unemployment.

The US budget deficit, which stood at % of GDP inhas focused on stimulus, while also dealing with the fallout of the crisis, including a rise in long-term unemployment. Market pressures have also prompted several large economies to announce draconian austerity plans, while others have decided to wait.

Fiscal challenges and long term economic costs – World Bank report to the Ad Hoc Liaison Committee. Monthly Bulletin (Action by UN System. Statements and Speeches of Ben S. Bernanke, Long-Term Fiscal Challenges and the Economy: Testimony before the Committee on the Budget, U.S. House of Representatives by Ben Bernanke, Board of Governors of the Federal Reserve System (U.S.).

Aging populations. Weather shocks. Scarce water. Globalization. Security threats. Policymakers today confront a number of developments that threaten to burden public budgets for decades to come, or bankrupt some entirely. This book argues that governments need to make policy changes now to take account of the potential fiscal consequences of these developments.

Long-Term Fiscal Imbalances, US External Liabilities, and Future Living Standards WILLIAM R. CLINE 11 The long-term economic challenges facing the United States include the need to avoid widening, unsustainable fiscal and external deficits as well as to rebuild private saving from its extremely low levels of recent years.

This. Federal, state, and local governments face long-term fiscal challenges. Policy Futures analyzes the long-run budget situation; identifies policies that enhance economic growth and opportunity as well as reduce deficits; promotes federal and state tax systems that are equitable, efficient, and raise sufficient revenues; helps states improve their fiscal planning; and resists efforts to impose federal and state fiscal straightjackets.

"Long-term fiscal challenges and the economy: testimony before the Committee on the Budget, U.S. House of Representatives, Febru ," Speech. Who Will Pay?: Coping With Aging Societies, Climate Change, and Other Long-Term Fiscal Challenges [Heller, Peter S.] on *FREE* shipping on qualifying offers.

Who Will Pay?: Coping With Aging Societies, Climate Change, and Other Long-Term Fiscal Challenges4/5(1). Long-term fiscal challenges The population in OECD countries is ageing rapidly, which will have significant macroeconomic impacts, including on public expenditure and tax revenues.

This paper analyses the consequences of population ageing at the sub-central government (SCG) levels and introduces the ‘SCG fiscal vulnerability to ageing’ : Céline Colin, Bert Brys. It may be hard to think about these longer-term impacts in light of today’s urgent problems.

But, based on evidence from past crises, the best time to address these challenges is now. Fiscal policy, on the other hand, determines the way in which the central government earns money through taxation and how it spends assist the economy, a. Long-term Social, Economic and Fiscal Effects of Immigration into the EU: The Role of the Integration PolicyI d’Artis Kancsa, Patrizio Leccab aEuropean Commission, DG Joint Research Centre, Ispra, Italy.

bEuropean Commission, DG Joint Research Centre, Sevilla, Spain Abstract The issues of the forced migration and integration of refugees in the EU societyFile Size: 1MB. putting the pieces together: the long-term budget outlook The sustainability of federal fiscal policy is affected not only by the expected growth in entitlement programs but also by the current level of national debt and by the expected trajectories for tax revenues and discretionary spending.

Solutions to the fiscal challenge must be long-term, bipartisan budget solutions that can be implemented gradually.

Discover some of the comprehensive plans proposed, as well as policy options for individual parts of the budget that merit consideration. Mr. Chairman and members of the Committee: I am very pleased that you are holding this hearing on the short- and long-run fiscal challenges.

I strongly share. Long-Term Fiscal Challenges and the Economy: Testimony before the Committee on the Budget, U.S. House of Representatives. DATE: Febru PART OF: Statements and Speeches of Ben S. Bernanke AUTHOR: Bernanke, Ben; CONTRIBUTING AUTHOR: Board of Governors of the Federal Reserve System (U.S.), Download (pdf) View Full Text.

Medium and Long-term Fiscal Policy Challenges Looking beyond the short term, one of the important tasks for economic policy is to keep the public finances on a sound footing, which could provechallenging if growth should remain weak over the medium term.

Figure 4 Maturity Profile of Long-Term Marketable and Official Debt at end-September C Figure 5 Fan chart of Real GDP C Boxes Box 1 Box 2 Box 3 Box 4 Evolution of ‘fiscal space’ in Application of Fiscal Space Medium Term Budgetary Forecasts Debt Sustainability – Alternative metrics for Ireland C C C CFile Size: 2MB.

Now is an excellent time for it: education has long been critical for human welfare, but is even more so in a time of rapid economic change. The Report explores four main themes. First, education's promise: Education is a powerful instrument for eradicating poverty and promoting shared prosperity, but fulfilling its potential requires better.

Structural Challenges for the American Economy. Lagging productivity growth Over the long term, the pace at which our standards of living increase depends on the growth of labor productivity--that is, the increase in the amount of economic value that a worker can generate during each hour on the job.

During the economic slowdown Poland was the only EU country to avoid a recession, in part because of the government’s loose fiscal policy combined with a commitment to rein in spending in the medium-term Poland is the largest recipient of EU development funds and their cyclical allocation can significantly impact the rate of economic.

Identifying fiscal sustainability challenges in the areas of pension, health care and long-term care policies ( kB) Summary for non-specialists (29 kB) This paper presents a horizontal assessment framework used by the Commission services to identify structural-fiscal reforms that are deemed necessary to address fiscal sustainability.

As a result of these structural factors, the nation faces a challenging long-term fiscal problem. The pressures for higher spending mean that revenues, too, will need to rise if the federal debt is to grow no faster than the economy, even if responsible measures to reduce program costs — including reforms to slow health care cost growth.

Expanding the nation's capacity to meet current and future growth in long-term care needs would pose difficult planning, management and resource allocation problems even if it just involved enlarging an existing well-structured and functioning long-term care system.

There is broad consensus, however, that the current system as structured is being stressed to its limits and that its functioning. Fiscal policy is the means by which a government adjusts its spending levels and tax rates to monitor and influence a nation's economy.

It is the sister strategy to Author: Leslie Kramer. Coping with Aging Societies, Climate Change, and Other Long-Term Fiscal Challenges, with a foreword by Jeffrey Sachs," The Singapore Economic Review (SER), World Scientific Publishing Co.

Pte. Ltd., vol. 50(01), pages Author: Åke Blomqvist. In addition to showing the path of future debt, CBO's Long-Term Budget Outlook described the consequences of a large and growing federal debt. The four main consequences are: Lower national savings and income Higher interest payments, leading to large tax hikes and spending cuts Decreased ability to respond to problems Greater risk of a fiscal crisis According to the report.

Decisions in the near term to enhance economic growth and address national priorities need to be accompanied by a forward-looking fiscal plan to put the government on a sustainable long-term path. A look at the nation's fiscal condition and future, and opportunities to improve it.

A summary of Problems with Monetary Policy and Fiscal policy in 's Policy Debates. Learn exactly what happened in this chapter, scene, or section of Policy Debates and what it means.

Perfect for acing essays, tests, and quizzes, as well as for writing lesson plans. And yet, hovering over the short-term challenges is an unsustainable long-term fiscal policy driven on autopilot by rising health care costs and an aging population.

Without a firm commitment to long-term fiscal discipline, any actions taken to revive the economy in the short term. Britain's economic recovery: three key challenges to long-term growth So the fiscal squeeze has been relaxed, at least temporarily, while a number of.

Supply-side policies focus on the production and supply side of the economy, and specifically on factors aimed at shifting the Long-run AS curves to the right, to increase potential output and achieve long-term economic growth.

This is done by changing the quantity and/or quality of factors of production.Thus, a country’s growth can be broken down by accounting for what percentage of economic growth comes from capital, labor and technology.

It has been shown, both theoretically and empirically, that technological progress is the main driver of long-run growth. Fed chairman speaks on long-term fiscal challenges and the economy. February 28 AM EST NEW YORK () -- The following is Federal Reserve Chairman Ben Bernanke's testimony.