What are the implications for U.S. global competitiveness of running large budget deficits, and what should be done to reign in the fiscal shortfall? Five experts provide their take on the risks and recommend solutions.
The McKinsey Executive Roundtable Series in International Economics is presented by the Corporate Program and the Maurice R. Greenberg Center for Geoeconomic Studies.
Roger C. Altman and Richard N. Haass say the stakes are too high for the U.S. government to fail to raise the federal debt limit.
Amity Shlaes argues that the automatic debt-control measures modeled after the 1985 Gramm-Rudman plan that are now being proposed may not achieve their intended result.
James Surowiecki writes on the federal budget deficit and healthcare costs.
Roger Altman, Founder and Chairman of Evercore Partners and former Deputy Secretary of the U.S. Treasury, discusses the prospects for solving the U.S. debt and deficit with John Bussey, Washington Bureau Chief of The Wall Street Journal. Altman and Bussey spoke on the sidelines of CFR's 2011 Corporate Conference.
President Obama's round of speeches on reducing the deficit should put more emphasis on restoring U.S. competitiveness and less on the sacrifices rich Americans must make to pay down the country's debts, says CFR's Amity Shlaes.
President Obama's competing deficit-cutting plan stimulates a crucial debate with Republicans that will have major consequences for U.S. and global growth, but no compromise appears imminent, says CFR's James Lindsay.
Amity Shlaes says that anyone who wants to block tax increases before it's too late ought to support Paul Ryan's budget plan.
The deal to avert a government shutdown may provide some desperately needed momentum for U.S. political leaders to take on the country's debt and deficit crisis and restore its global fiscal reputation, writes CFR's Sebastian Mallaby.
Benn Steil's April column in Dow Jones' Financial News, co-authored with Paul Swartz, argues that the White House OMB's growth forecasts are systematically biased upwards, and that using the lower private or CBO growth assumptions results in about $1.75 trillion more debt over the next ten years than is implied by the president's recent budget.
Sebastian Mallaby says that a government shutdown could undermine the dollar's reserve currency status and thus reduce the United States' ability to project power.
The mounting budget battle in Washington and looming federal debt limit raises concerns about the ability of U.S. lawmakers to tackle the country's enormous deficit and debt, writes CFR's James Lindsay.
The state almost everywhere is big, inefficient and broke. It needn't be, says John Micklethwait.
Secretary of State Hillary Clinton's Opening Remarks Before the Senate Foreign Relations Committee
The White House's proposed budget for FY2012 tries to balance spending cuts with investment to boost competitiveness. CFR experts examine how well it handles deficit reduction, defense, foreign aid, and spurring innovation.
Alan J. Auerbach and William G. Gale provide new estimates of the Federal budget outlook.
John Cranford of Congressional Quarterly writes that increases to the ceiling on federal debt have become highly partisan affairs. If Republicans are united in their intent to use the debt limit to demand tough spending constraints, then brinkmanship, not compromise, may be the driving force behind this year's Congressional vote.
To ensure the success of Myanmar's historic democratic transition, the United States should revise its outdated and counterproductive sanctions policy.
Blackwill and Campbell analyze the rise of Chinese President Xi Jinping and call for a new American grand strategy for Asia.
Williams argues that greater U.S. involvement is necessary to enhance the quality and success of peacekeeping missions.
Kurlantzick offers the sharpest analysis yet of what state capitalism’s emergence means for democratic politics around the world. More
In a cogent analysis of why the United States is losing ground as a world power, Blackwill and Harris explore the statecraft of geoeconomics. More
Takeyh and Simon reframe the legacy of U.S. involvement in the Arab world from 1945 to 1991 and shed new light on the makings of the contemporary Middle East. More
Learn more about CFR’s mission and its work over the past year in the 2015 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.
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