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.
Roger Altman and Richard N. Haass argue that a debt crisis in the United States will shrink America's global role and result in a less safe and less free world.
Due to an increasing U.S. Federal government deficit many groups now argue for the institution of a national value-added tax (VAT) to increase government revenue. James M. Bickley of the Congressional Research Service examines the plausibility of enacting such a plan.
Potential political gridlock over raising the country's debt ceiling could threaten to delay progress on reducing the country's debt and rattle international confidence in the U.S. economy, experts say.
The Obama administration's compromise tax deal with Senate Republicans highlights ongoing debate about potential tradeoffs between tackling U.S. debt and bolstering the U.S. economic recovery.
In the Washington Post, Fareed Zakaria criticises the latest tax compromise for lacking a balanced, long-term solution to skyrocketing deficits, deriding the current trend towards 'mañana economics', and compares it to China's investment in sustainable growth.
In this report, the Pew Research Center for the People and the Press explains that there is public consensus on federal budget issues in principle, but resistance along partisan lines when plans are put into practice.
The presidential commission on reducing the U.S. deficit fell short of the vote needed to advance to Congress, but analysts said it indicated some bipartisan backing for crucial cuts that would address the country's threatening debt picture.
The bipartisan deficit reduction plan stresses the need to tighten U.S. foreign policy priorities, even if U.S. allies fail to pick up the slack, says expert Michael Mandelbaum.
Cutting the federal deficit is seen as essential for reviving the country's economic standing. CFR's Peter Orszag looks at some of the pros and cons of recommendations by a presidential commission's co-chairs to cut more than $3.8 trillion from national deficits.
Williams argues that the status quo for peace operations in untenable and that greater U.S. involvement is necessary to enhance the quality and success of peacekeeping missions.
The authors argue that the United States has responded inadequately to the rise of Chinese power and recommend placing less strategic emphasis on the goal of integrating China into the international system and more on balancing China's rise.
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.
Ashley's War tells the poignant and gripping story of a groundbreaking team of female American warriors who served alongside Special Operations soldiers in Afghanistan. More
Smith's insightful book explores the policy issues testing the Japanese government as it tries to navigate its relationship with an advancing China. More
This revolutionary new look at volatility and crisis in oil markets explores the conditions in which oil supply fears arise, gain popularity, and eventually wane. More
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.
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