PAST EVENT
Thursday, November 19, 2009
9:00 AM to 11:45 AM
Washington, DC
The current economic crisis is not only a national crisis; it is also a metropolitan crisis. And soon the downturn will bring a local government fiscal crisis. On November 19, the Brookings Metropolitan Policy Program and the National League of Cities co-hosted a forum on city fiscal conditions, the responses being undertaken by creative mayors, and the implications for national economic recovery. Read More
RESEARCH AND COMMENTARY
Mark Muro and Christopher W. Hoene, November 18, 2009, The Brookings Institution
The current economic crisis is not only a national crisis; it is also a metropolitan crisis; and it will soon become a local government fiscal crisis. In this framing report, Mark Muro and Christopher Hoene assert the importance of local government fiscal conditions to national economic performance, survey current and projected fiscal conditions, review implications for economic recovery, and offer a menu of federal policy options to help minimize city layoffs and service cuts that could harm the economy. Read More
RESEARCH AND COMMENTARY
Alice M. Rivlin, November 18, 2009, Subcommittee on Federal Workforce, Postal Service and the District of Columbia, U.S. House of Representatives
Testifying before the U.S. House Subcommittee on the Federal Workforce, Postal Service and the District of Columbia, Alice M. Rivlin, Director of Greater Washington Research at Brookings, asserted that the District of Columbia government should have greater autonomy over its own budget. Once the District government finalizes its budget spending out of its own source revenues, Dr. Rivlin states that it should not be altered or delayed by Congress. Read More
RESEARCH AND COMMENTARY
Eswar Prasad and Grace Gu, November 11, 2009, The Brookings Institution
While the economic entanglements between the U.S. and China have increased over the last decade, so has the tension. With President Obama visiting China and other Asian nations, Brookings expert Eswar Prasad and Grace Gu of Cornell University discuss the tightening embrace between the two countries—in terms of flows of goods and services, financial capital and people—and the implications. Read More
RESEARCH AND COMMENTARY
William A. Galston, November 10, 2009, Senate Budget Committee
Speaking before the Senate Budget Committee, Senior Fellow William Galston discussed how the Untied States’ current fiscal course is unsustainable. The level of deficits, debt, and borrowing from abroad projected for the next decade threatens not only our economic prosperity, but also our currency, global leadership, and national independence, he asserted. Galston recommended that an independent, bi-partisan commission be created to address the challenge of developing a sustainable fiscal policy. Read More
RESEARCH AND COMMENTARY
Justin Vaïsse, September 23, 2009, ForeignPolicy.com
Irving Kristol, regarded by many as the "godfather" of neoconservativism, passed away on September 18 at the age of 89. Justin Vaïsse examines the history of the movement and explains why Kristol was not a neocon in the modern sense of the word – partly because of Kristol’s consistently realist foreign policy approach. Read More
RESEARCH AND COMMENTARY
William G. Gale and Alan J. Auerbach, September 15, 2009, The Brookings Institution
William Gale and Alan Auerbach review recent economic events and their impact on U.S. fiscal performance and prospects, highlighting the historic nature of the 2009 budget outcomes, the unsustainability of plausible ten-year budget projections, and the increasingly dire long-term fiscal problem. Read More
BOOK
Ron Haskins and Isabel V. Sawhill, September 15, 2009
Creating an Opportunity Society examines economic opportunity in the United States and explores how to create more of it, particularly for those on the bottom rungs of the economic ladder. Read More
RESEARCH AND COMMENTARY
Alan J. Auerbach and William G. Gale, September 08, 2009, CNNMoney.com
Senior Fellow William G. Gale and Alan J. Auerbach argue that while Obama must spell out a plan for reducing health costs, that will only partly address the long-term fiscal gap. Taxes and broader cuts are needed to solve the government's long-term financial problems. Read More
VIDEO
Alice M. Rivlin, August 27, 2009
President Barack Obama has nominated Ben Bernanke to serve a second term as Chairman of the Federal Reserve. The nomination came on the same day the White House announced a sharp increase in projected deficits. Alice Rivlin says the deficit projections should serve as an impetus for officials to step up efforts to fix the floundering economy. She also gives the Bernanke nomination her nod of approval.
RESEARCH AND COMMENTARY
Alan J. Auerbach and William G. Gale, August 24, 2009, Financial Stability and Macroeconomic Policy Conference
Facing the most severe recession since the 1930s, the U.S. government has pursued an aggressive countercyclical fiscal policy, which is striking given the consensus a decade ago against the use of discretionary fiscal policy as a stabilization tool. In this new paper, William Gale and Alan J. Auerbach consider the evidence on the effects of discretionary fiscal policy, beginning with how the practice of this policy has changed over time.
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VIDEO
Barry P. Bosworth, August 06, 2009
President Obama recently signed a law adding $2 billion to the wildly popular "Cash for Clunkers" program that has given automakers a boost after months of declining sales. Barry Bosworth says despite the program’s quick uptake, there are probably better ways to help stimulate the economy.
VIDEO
Ernest Aryeetey, August 04, 2009
Secretary of State Hillary Clinton's 11-day visit to select African nations wraps up this week, her longest overseas mission as America's top diplomat. Ernest Aryeetey says African nations view Secretary Clinton’s trip so early in her term as a smart move, adding her visit instills a sense of optimism about U.S.-Africa relations.
VIDEO
Alice M. Rivlin, July 31, 2009
The latest government reports show that the economy contracted at a rate of one-percent last quarter — better than expected. But the new GDP numbers showed that consumers have continued to cut spending, and unemployment is likely to continue to rise for some time. Senior Fellow Alice Rivlin says the news is good, but an end to the recession is not yet at hand.
RESEARCH AND COMMENTARY
William G. Gale and Alan J. Auerbach, July 30, 2009, CNNMoney.com
William Gale and Alan Auerbach discuss the size of the long-term budget deficit and why it must be brought under control. They urge fiscal discipline with delicate timing: imposing spending cuts and tax increases too late risks precipitating a crisis in financial markets; imposing fiscal discipline too soon risks weakening the recovery or worsening the recession, as actually happened in the United States in the 1930s. Getting this mix right will require luck, discipline, imagination and leadership. Read More