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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.
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Charts
70% of the top 20 labor shortage-threatened jobs don't require a bachelor's degree
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A national AI framework must promote safety, security, and innovation.
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Getting to net zero requires technologies that are not currently commercially available. Use the power of markets to help companies make further innovation.
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How can business and policy leaders equip workers with the skills and flexibility to work alongside AI?
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The proliferation of easy-to-use generative AI requires that policymakers and business leaders each play an important role.
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Without action, Social Security's Trust Fund will be depleted by 2033, resulting in automatic 23% benefit cuts.
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Charting a sustainable path forward by achieving long-term economic growth, restoring a rules-based international order, and strengthening our democracy.
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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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PRESS RELEASE
As Higher Education Costs Soar and Trust Declines, CED Offer
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CED Provides Plan to Maximize Historic Federal
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