22
May 2024
Past Event
Can the US Rein in Chronic Federal Deficit Spending?

Event will also air live on this page.

 

Inquiries: press@hudson.org

Can the US Rein in Chronic Federal Deficit Spending?

Past Event
Hudson Institute
May 22, 2024
(Photo by Cris Faga/NurPhoto via Getty Images)
Caption
(Photo by Cris Faga/NurPhoto via Getty Images)
22
May 2024
Past Event

Event will also air live on this page.

 

Inquiries: press@hudson.org

Speakers:
President, American Action Forum and Former Director, Congressional Budget Office
Douglas Holtz-Eakin

President, American Action Forum and Former Director, Congressional Budget Office

William Beach, Senior Fellow in Economics, Economic Policy Innovation Center, Coolidge Presidential Foundation and Former Chief Economist, US Senate Committee on the Budget
William Beach

Senior Fellow, Coolidge Presidential Foundation, Former Chief Economist, US Senate Committee on the Budget, and Former Commissioner of the US Bureau of Labor Statistics

thomas_duesterberg
Thomas J. Duesterberg

Senior Fellow

Listen to Event Audio

The United States’ total debt has ballooned to over $34 trillion. Economists Kenneth Rogoff and Carmen Reinhardt consider this level of debt relative to gross domestic product a sign of major economic trouble (see figure 1). But Washington shows little appetite for addressing the problem as policymakers approve budgets with annual deficits of 25 percent or more. Defense spending and other needed investments are severely constrained while interest on the debt now approaches $1 trillion per year. Inflation is supercharged, and chronic overspending challenges productivity and America’s sovereign credit ratings.

Join Hudson Senior Fellow Thomas Duesterberg for a discussion with Dr. Douglas Holtz-Eakin and Dr. William Beach to explore ways to halt the destructive budget cycle.

Figure 1

(see figure 1)

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