Publication

In this policy brief, the short- and long-term efforts needed to cut the US deficit are discussed. A series of upcoming fiscal deadlines highlights the serious challenges facing the economy and the real prospect of a crisis down the road. The author argues that neither party's political leadership have put forward a concrete package needed to put the debt durably on a downward path. Confronting these challenges in a timely manner, rather than governing through a sequence of artificial deadlines and confrontations, promises substantial economic and political benefits, strengthening the U.S. economy as well as its standing in the world.