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Fiscal restraint has become even more important. The US and global economies have been battered by two global shocks: the COVID-19 pandemic and the Russian invasion of Ukraine. In the US, these two shocks have compromised even further our nation’s deteriorating fiscal health, leaving the nation with even higher debt, high inflation, rising interest rates, and a possible recession. The following Solutions Brief explains why debt matters; how the national debt crisis is intensifying as interest rates rise and recession looms; how long it will take and what it will take, as demonstrated in various scenarios, to reduce the debt-to-GDP ratio to a responsible level of 70 percent; and what policies are recommended to achieve that goal so we can return to the path of fiscal health and stability.
Priorities for Implementing Historic Federal Investments
November 29, 2023
Capitalizing on Infrastructure
November 27, 2023
Federal spending on major health care programs
November 02, 2023
Health Care Policy After the Pandemic
October 30, 2023
The 2024 Election: Rebuilding Trust
September 25, 2023
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Constrained supply chains and inflation in materials and wages have raised infrastructure project costs 49% since 2020
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Both the rising cost of health care and increasing utilization of it as the population ages are driving greater health care spending.
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A hyperpolarized environment, diminished trust in our nation’s leaders.
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New York City’s traditional pillars as a global financial and cultural hub face rising competition from growing US and international cities.
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A wide variety of solutions, including greater use of clean energy sources to replace fossil fuels and reduction of emissions in major economic sectors.
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Infographic: US dependence on China remains high in some key sectors.
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Infographic: Addressing US Labor Shortages Through Immigration Reform
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Debt matters, and these much-needed solutions can restore the US debt-to-GDP ratio to a sustainable 70 percent.
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Infographic of three public policy recommendations for US in 2023
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