The following testimony was given to the U.S. Congressional Joint Economic Committee on November 15, 2023. Video of the hearing is available here.
Thank you to Chairman Heinrich, Vice Chairman Schweikert, and members of this committee for inviting me to testify at today’s hearing. I am honored to appear before you to examine topics that I’ve studied throughout my career in public service and academia, in particular the intersection between an aging population and long-standing fiscal imbalances. Since the U.S.’s demographic shifts play an important role in this discussion, my testimony today will explore the ways an aging population can contribute to a deteriorating fiscal outlook, before presenting a menu of policy approaches that can mitigate these trends.
Acknowledgements and disclosures
The Brookings Institution is financed through the support of a diverse array of foundations, corporations, governments, individuals, as well as an endowment. A list of donors can be found in our annual reports published online here. The findings, interpretations, and conclusions in this report are solely those of its author(s) and are not influenced by any donation.