RESEARCH AND COMMENTARY
Robert W. Crandall and Clifford Winston, November 27, 2008, The Wall Street Journal
Robert Crandall and Clifford Winston discuss a proposal for automakers they think will cost taxpayers less and, in the long run, be more beneficial to labor and the overall economy than either a straight bailout or bankruptcy. Read More
RESEARCH AND COMMENTARY
Gary Burtless, November 18, 2008, The Brookings Institution
Congress is considering legislation that would extend loan guarantees to the U.S. auto industry. Gary Burtless argues that a government bailout would help save American manufacturing jobs and could give taxpayers a good return on their investment. Read More
VIDEO
Jeffrey R. Kling, November 07, 2008
President-elect Obama held his first press conference today, focusing on the economy. Kling commented on Obama’s address saying the nation needs two rounds of stimulus to kick-start the economy—the first to stem recent job losses and help homeowners, and then to focus on longer-term growth.
RESEARCH AND COMMENTARY
Roger C. Altman, Jason E. Bordoff, Jason Furman and Robert E. Rubin, November 2008, Hamilton Project Discussion Paper
Today, too many Americans are not fully sharing in our nation’s prosperity. Real median wages have stagnated, income inequality has increased, and changes in the economy that have brought benefits have also brought new risks and insecurities. In response to these challenges, our nation needs to act now on three fronts. First, our nation must make the right long-term investments to promote economic growth that is both strong and sustainable. Second, it is necessary to put in place economic policies that will better achieve broad-based participation in that growth. Third, for growth to be sustainable, it is necessary to restore sound fiscal policy, moving on a multiyear path to a sustainable fiscal position. This paper elaborates on these economic challenges. Read More
BOOK
Douglas W. Elmendorf, Martin Neil Baily and Robert E. Litan, November 01, 2008
In 2007 and 2008, America’s financial system faced its greatest challenge in seventy years. Baily, Elmendorf, and Litan explain what happened and put forward a specific agenda of policy actions to reduce the chance that history will repeat itself. Read More
RESEARCH AND COMMENTARY
Martin Neil Baily, October 21, 2008, Real Clear Politics
Martin Baily recommends an immediate stimulus package of $200 billion, with preparation of an additional $100 billion to be triggered if unemployment goes over 7.5 percent to prevent the U.S. economy from trending further into the danger zone. Read More
RESEARCH AND COMMENTARY
October 2008, The Brookings Institution
As President-Elect Obama prepares to lead the United States, what are the top global economic challenges facing the new president and his advisors and how should the new administration address them? A new report by Brookings global economic and development experts ranks the top 10 issues and details specific ideas for how to tackle the toughest challenges. Read More
PAST EVENT
Wednesday, October 01, 2008
10:00 AM to 12:00 PM
Washington, DC
Days of uncertainty on Capitol Hill finished with an economic rescue package, quickly signed by the president. Brookings economic, budget and congressional experts gathered mid-week to discuss the $700 billion question. Alice Rivlin said the bailout package will be successful if it gets credit flowing again. Others expressed concerns about whether the oversight in the legislation would be effective. Read More
RESEARCH AND COMMENTARY
Isabel V. Sawhill, September 2008, First Focus
Advocates for children are hoping that with a new administration and a new Congress in 2009, investments in children will get enhanced priority. Isabel Sawhill argues that we need a new intergenerational contract that invests more in people when they are young, but then expects them to assume somewhat greater responsibility for their own support during their retirement years. Read More
RESEARCH AND COMMENTARY
Ron Haskins, Summer 2008, Pathways Magazine
The bipartisan economic stimulus package was a straightforward application of Keynesian fiscal policy: Spend your way out of recession. However, some might wonder if it’s possible to design a stimulus package that could also reduce inequality. In this paper, Ron Haskins explains why targeted stimulus may reduce poverty in the short run but cannot substitute for investments that will reduce inequality in the long run. Read More
RESEARCH AND COMMENTARY
Henry J. Aaron and Charles L. Schultze, July 2008, The Brookings Institution
With baby boomers beginning to retire and health care spending outpacing income growth, Medicare, Medicaid and Social Security face an uncertain financial future. Henry Aaron, Charles Schultze and other experts propose a radical change in budget procedures to address the budget deficits currently projected for future decades. Read More
RESEARCH AND COMMENTARY
Henry J. Aaron, June 24, 2008, House Committee on the Budget
Henry J. Aaron testified before the House Committee on the Budget about H.R. 3654, a bill that would establish a federal budget commission to "reform tax policy and entitlement benefit programs and ensure a sound fiscal future." Read More
VIDEO
The Honorable Jim Cooper (D-TN) and The Honorable Paul Ryan (R-Wisc.), June 18, 2008
Two distinguished members of Congress: Representative Paul Ryan (R-Wisc.) and Representative Jim Cooper (D-Tenn.) spoke at a Brookings forum on methods to correct the unsustainable path of our current fiscal policies. Rep. Ryan, the ranking Republican on the House Budget Committee, addressed containing government spending by restructuring the tax code, Medicare, Medicaid and Social Security. Rep. Cooper is a Democrat on the House Budget Committee and a member of the Blue Dog Coalition. He recently introduced the “Securing America’s Future Economy Commission Act” or SAFE Act, which would establish a commission to address the long-term fiscal outlook. Senior Fellow Isabel Sawhill moderated the panel.
PAST EVENT
Wednesday, June 18, 2008
11:00 AM to 12:00 PM
Washington, DC
On June 18, the Brookings Institution hosted Representative Paul Ryan (R-Wisc.) and Representative Jim Cooper (D-Tenn.) to discuss different approaches to correct the unsustainable path of our current fiscal policies. Read More
RESEARCH AND COMMENTARY
Alice M. Rivlin and John W. Kingdon, June 17, 2008, The News & Observer (Raleigh)
The next president and new Congress face a daunting set of challenges come January 2009: Iraq war, troubled economy, global climate change, looming government debt, taxes, health care reform and rebuilding infrastructure, all vying for immediate attention. Such a long "to do" list presents two possible tactics: tackle the hardest problem first or get the easy ones out of the way. Alice M. Rivlin and John W. Kingdon prefer the latter and would start with Social Security. Read More