Jacob J. Lew, director of the White House Office of Management and Budget, analyzes the effect of the political gridlock in Washington on fiscal policies, and discusses the domestic deficit challenges faced by the White House.
This symposium is presented by the Maurice R. Greenberg Center for Geoeconomic Studies and is made possible through the generous support of Stephen C. Freidheim.
Lawmakers are considering sharp cuts to defense spending as part of mandated deficit-reduction efforts. This Backgrounder discusses the effects of such major cuts and implications for U.S. military strategy.
The European sovereign debt crisis is compounded by a faltering U.S. economy, making the implementation of an EU-wide federal budget and coordination of nation-state budgets necessary to preserve the single currency, says economist Jacques Attali.
While a last-minute deal was able to raise the U.S. debt ceiling ahead of default, global investors are frustrated by the unnecessary brush with crisis and by the culture of U.S. political brinkmanship. The long-term impact on U.S. treasuries is unclear.
David S. Abraham and Meredith Ludlow argue, "...Congress' implication that the United States may not repay its debt unless the government restructures domestic spending is undermining American interests in Asia."
The U.S. debt ceiling and deficit debate has led to challenges on foreign aid spending, but while aid could be leaner and more effective, CFR's Stewart Patrick argues Congress should look to consolidate programs rather than simply cut them.
A new proposal by the bipartisan "Gang of Six" to reduce deficits by nearly $4 trillion could gain traction among House Republicans, with polls showing greater public support for raising the debt ceiling as the August 2 deadline approaches, says CFR's Sebastian Mallaby.
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.
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 »