Benn Steil's column in Dow Jones' Financial News, co-authored with Dinah Walker, analyzes Mitt Romney's budget math. Without questioning the candidate's assumptions on growth or available sources of revenue, they estimate a roughly $1 trillion annual budget gap.
Peter Orszag calls for a "combo deal" of upfront stimulus and long-term deficit reduction because it would be less risky, offer more growth, and be more likely to be enacted than a stimulus-only approach.
Peter Orszag works through various approaches U.S. policymakers could take to head off fiscal catastrophe as a storm of tax increases, spending cuts, and a debt ceiling standoff looms at the end of the year.
Congressman Paul Ryan, Chairman of the House Budget Committee, presented this document, "The Path to Prosperity: a Blueprint for American Renewal", on behalf of the House Budget Committee on March 20, 2012.
Authors: Peter Wallsten, Lori Montgomery, and Scott Wilson
President Obama used an economic "grand bargain" to wash his hands of Washington's dysfunction, presenting himself as a well-intentioned man unable to secure a fair deal with the Capitol's enduring partisanship--but the reality of the deal was a lot more complicated than press statements from either party reveal, write Peter Wallsten, Lori Montgomery, and Scott Wilson for the Washington Post.
The Congressional Budget Office (CBO) released its yearly Budget and Economic Outlook report on "'baseline' budget projections spanning the next 10 years. Those projections are not a forecast of future events; rather, they are intended to provide a benchmark against which potential policy changes can be measured." The report covers 2012-2022.
Peter Orszag outlines five basic principles for U.S. fiscal policy to follow: continue short-term economic support, enact automatic stabilizers, couple stimulus with delayed deficit reduction, raise additional revenue, and move forward on small-scale policy issues.
The Economist comments on Obama's recently released federal budget: as a fiscal document, it is optimistic though not unreasonable; as a political move, it is an early campaign promise towards reelection.
The Council on Foreign Relations' David Rockefeller Studies Program—CFR's "think tank"—is home to more than seventy full-time, adjunct, and visiting scholars and practitioners (called "fellows"). Their expertise covers the world's major regions as well as the critical issues shaping today's global agenda. Download the printable CFR Experts Guide.
Campbell evaluates the implications of the Boko Haram insurgency and recommends that the United States support Nigerian efforts to address the drivers of Boko Haram, such as poverty and corruption, and to foster stronger ties with Nigerian civil society.
Koblentz argues that the United States should work with other nuclear-armed states to manage threats to nuclear stability in the near term and establish processes for multilateral arms control efforts over the longer term.
The authors argue that it is essential to begin working now to expand and establish rules and norms governing armed drones, thereby creating standards of behavior that other countries will be more likely to follow.
Learn more about CFR’s mission and its work over the past year in the 2014 Annual Report. The Annual Report spotlights new initiatives, high-profile events, and authoritative scholarship from CFR experts, and includes a message from CFR President Richard N. Haass. Read and download »