Olli Rehn, commissioner for economic and monetary affairs for the European Union (EU), details the steps the EU is taking for comprehensive economic repair, and states that the EU is maintaining its momentum of growth.
This meeting was part of the C. Peter McColough series on International Economics.
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.
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.
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.
Authors: Benn Steil and Paul Swartz Financial News
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.
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 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.