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Friday November 20, 2009

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Fiscal Policy

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Save to My PortfolioFiscal Challenges Facing Cities: Implications for Economic Recovery

Thursday, November 19, 2009
9:00 AM to 11:45 AM
Washington, DC

Fiscal Challenges Facing Cities: Implications for Economic RecoveryThe 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

Cities, Global Financial Crisis, Fiscal Policy, U.S. Economy

RESEARCH AND COMMENTARY

Save to My PortfolioFiscal Challenges Facing Cities: Implications for Recovery

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

Cities, Global Financial Crisis, Fiscal Policy, U.S. Economy

RESEARCH AND COMMENTARY

Save to My PortfolioThe Case for Budget Autonomy in the District of Columbia

Alice M. Rivlin, November 18, 2009, Subcommittee on Federal Workforce, Postal Service and the District of Columbia, U.S. House of Representatives

The Case for Budget Autonomy in the District of ColumbiaTestifying 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

Washington DC, Fiscal Policy, Governance

RESEARCH AND COMMENTARY

Save to My PortfolioAn Awkward Dance: China and the United States

Eswar Prasad and Grace Gu, November 11, 2009, The Brookings Institution

An Awkward Dance: China and the United StatesWhile 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

Global Economics, China, China's Economy, U.S. Economy, Fiscal Policy

RESEARCH AND COMMENTARY

Save to My PortfolioStrengthening United States Fiscal Policy

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

Budget Deficit, Executive Branch, Federal Budget, Governance, U.S. Congress

RESEARCH AND COMMENTARY

Save to My PortfolioWas Irving Kristol a Neoconservative?

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

U.S. Politics, Politics, Fiscal Policy

RESEARCH AND COMMENTARY

Save to My PortfolioAn Update on the Economic and Fiscal Crises: 2009 and Beyond

William G. Gale and Alan J. Auerbach, September 15, 2009, The Brookings Institution

An Update on the Economic and Fiscal Crises: 2009 and BeyondWilliam 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

Federal Budget, Fiscal Policy, Budget Deficit, U.S. Economy

BOOK

Save to My PortfolioCreating an Opportunity Society

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

Economic Mobility, Children & Families, Education, Federal Budget, Marriage and Family Formation

RESEARCH AND COMMENTARY

Save to My PortfolioFix Health Care. But Fix the Deficits, Too

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

Health Care, Fiscal Policy, U.S. Economy

VIDEO

Save to My PortfolioBen Bernanke’s Second Term and the Federal Budget Forecast

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.

Budget Deficit, Federal Reserve System, Federal Budget, U.S. Economy, Fiscal Policy

RESEARCH AND COMMENTARY

Save to My PortfolioActivist Fiscal Policy to Stabilize Economic Activity

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. Read More

Fiscal Policy, U.S. Economy, U.S. Department of the Treasury, Budget Deficit

VIDEO

Save to My PortfolioBetter Ways to Stimulate than "Cash for Clunkers"

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.

U.S. Economic Stimulus, Auto Industry, U.S. Economy, U.S. Economic Growth, Energy Security

VIDEO

Save to My PortfolioAfrica and the Obama Administration

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.

Africa, Fiscal Policy, Developing Countries, Development, Foreign Aid

VIDEO

Save to My PortfolioWhere Does the U.S. Economic Recovery Stand?

Alice M. Rivlin, July 31, 2009

Where Does the U.S. Economic Recovery Stand?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.

U.S. Economy, Unemployment, Fiscal Policy, U.S. Economic Stimulus

RESEARCH AND COMMENTARY

Save to My PortfolioDeficit: What Caused It, Why It Matters

William G. Gale and Alan J. Auerbach, July 30, 2009, CNNMoney.com

Deficit: What Caused It, Why It MattersWilliam 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

Budget Deficit, Federal Budget, Fiscal Policy, U.S. Economy, Office of Management and Budget

Featured Experts

Alice M. Rivlin

Alice M. Rivlin

Senior Fellow, Economic Studies

Alice Rivlin, the first director of the Congressional Budget Office, is an expert on urban issues as well as fiscal, monetary and social policy. She directs the Greater Washington Research project. 
Read More

William G. Gale

William G. Gale

Senior Fellow, Economic Studies
Arjay and Frances Miller Chair in Federal Economic Policy

Bill Gale, the Arjay and Frances Miller Chair in Federal Economic Policy in the Economic Studies Program at Brookings, is an expert on tax policy, fiscal issues, pensions, and saving behavior. He is also co-director of the Tax Policy Center and director of the Retirement Security Project.
Read More

Isabel V. Sawhill

Isabel V. Sawhill

Senior Fellow, Economic Studies
The Cabot Family Chair

A nationally known budget expert, Isabel Sawhill focuses on domestic poverty and federal fiscal policy. She is also co-director of the Center on Children and Families at Brookings.
Read More

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Spotlight

ExpertIsabel V. Sawhill

A nationally known budget expert, Isabel Sawhill focuses on domestic poverty and federal fiscal policy. She is also co-director of the Center on Children and Families at Brookings.

ExpertMwangi S. Kimenyi

Mwangi S. Kimenyi is a senior fellow with the Africa Growth Initiative. He focuses on Africa's development, including institutions for economic growth, the political economy, and private sector development.

ExpertDomenico Lombardi

As president of the Oxford Institute for Economic Policy, Domenico Lombardi’s work at Brookings focuses on the international financial crisis and the reform of the IMF and the World Bank. He is an expert on G-20 and G8 Summits.

TopicEducation

The economic and political well-being of any society requires a well-educated citizenry. Brookings’s work extends beyond the K-12 bookends to include pre-school interventions, higher education and the challenges of education in developing countries.

ProgramGovernance Studies

Governance Studies explores political institutions of the United States and other democracies to assess how they govern, how their practices compare and how citizens and public servants can advance sound governance.

Research ProjectLatin America Initiative

The Latin America Initiative provides high-quality, in-depth, and independent research across a range of economic and political issues, and offers policy recommendations aimed at U.S. and Latin American policymakers.

TopicHealth Care

Brookings is committed to producing innovative policy solutions to our nation’s most difficult challenges. The country may face no more important domestic policy challenge than the much-needed reform of our health care system. Through an institution-wide effort, Brookings delivers new ideas and offers policy solutions to improve health care both at home and globally.

ExpertAmy Liu

Amy Liu is deputy director of the Brookings Metropolitan Policy Program. Her policy studies include economic competitiveness, metropolitan growth and development, governance reforms, urban reinvestment, and social equity.

Policy CenterEngelberg Center for Health Care Reform

The Engelberg Center for Health Care Reform provides practical solutions to achieve high-quality, innovative, affordable health care with particular emphasis on identifying opportunities on the national, state and local levels.

Policy CenterCenter on Children and Families

The Center on Children and Families studies policies on the well-being of America's children and their parents and seeks a more effective means of addressing poverty, inequality and lack of opportunity in the United States.

ExpertFederiga Bindi

Federiga Bindi is a leading expert on European political integration. She has a broad experience in government and held a number of posts in international organizations. Bindi currently serves as an advisor to the Italian Minister of Foreign Affairs. Her research focuses on the EU, transatlantic relations; EU states foreign policies, global governance issues.

ExpertMark McClellan

Mark McClellan works on promoting high-quality, innovative and affordable health care. Once commissioner of the Food and Drug Administration and administrator of the Centers for Medicare & Medicaid Services, Dr. McClellan now directs the Engelberg Center for Health Care Reform.

ExpertVanda Felbab-Brown

Vanda Felbab-Brown focuses on the national security implications of illicit economies and strategies for managing them. She is an adjunct professor in the Security Studies Program at Georgetown University’s School of Foreign Service.

Research ProjectBrookings-Bern Project on Internal Displacement

The Brookings-Bern Project on Internal Displacement monitors displacement problems worldwide, works with governments, regional bodies, international organizations and civil society to create more effective policies and institutional arrangements for Internally Displaed Persons.

ExpertTed Gayer

Ted Gayer is the co-director of the Economic Studies program and the Joseph A. Pechman Senior Fellow at the Brookings Institution. He conducts research on a variety of economic issues, focusing particularly on public finance, environmental and energy economics, housing, and regulatory policy.

ExpertSuzanne Maloney

Suzanne Maloney studies Iran, the political economy of the Persian Gulf and Middle East energy policy. A former U.S. State Department policy advisor, she has also counseled private companies on Middle East issues.