Former co-chairs of the President's bipartisan National Commission on Fiscal Responsibility and Reform Erskine Bowles and Alan Simpson proposed a new deficit reduction plan on February 19, 2013, through their organization Moment of Truth. Their plan projects reductions by $2.4 trillion over the next decade, with cuts to Medicare, Medicaid, Social Security, and discretionary spending, and ending or curbing deductions and tax breaks.
Contrary to those who see a future of "globalization on steroids," Joshua Kurlantzick says the reality of today's economic slowdown is that it will leave as its legacy the worst degloblization in modern history.
Timothy F. Geithner, the 75th Secretary of the U.S. Department of the Treasury, will join the Council on Foreign Relations (CFR) as a distinguished fellow. Geithner, who was previously a senior fellow at CFR in 2001, will be based at the organization's headquarters in New York.
Authors: Benn Steil and Dinah Walker Wall Street Journal Europe
Benn Steil's Wall Street Journal Europe op-ed, co-authored with Dinah Walker, argues that the Bank of England is getting "Libored"—that is, misled and manipulated—by the banks benefiting from its Funding for Lending Scheme. The Fed, which has shown interest in the scheme, should beware.
Because a financial crisis can inflict lasting damage to productivity growth, Peter Orszag argues that the failure of U.S. policymakers to enact a "barbell" fiscal policy now could yield more economic troubles down the road.
Speakers: Martin S. Feldstein and Alan S. Blinder Presider: Gideon Rose
Harvard University professor and economist Martin Feldstein, and Princeton University professor and economist Alan Blinder discuss the implications of the fiscal cliff and how an agreement can be reached.
While the grim effects of the 2008 financial crisis still resonate across the globe, the recession wasn't all bad: it triggered fundamental economic restructuring, and the result is a U.S. economy poised to emerge stronger than it was before.
"Europe's leaders were right about the pressure. Monetary union without banking union will not work, and a workable banking union requires at least some elements of fiscal and political union. But they were wrong about the irresistible part. There is no inevitability about what comes next."
Speakers: Antoine W. van Agtmael and Claudio M. Loser Presider: Theodore H. Moran
Claudio M. Loser and Antoine W. van Agtmael discuss perspectives on how Latin American countries have weathered the global financial crisis and assess what is at stake for the region's economies in the future.
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.
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