Ep. 189: Marc Goldwein on the Unprecedented US Budget Problem and How to Fix It

 

Marc Goldwein is the Senior Vice President and Senior Policy Director for the Committee for a Responsible Federal Budget, where he guides and conducts research on a wide array of topics related to fiscal policy and the federal budget. He works regularly with Members of Congress and their staffs on budget-related issues. In this podcast, we discuss: 

• Scale of US debt and deficit 

• How COVID impacted spending 

• Trends in healthcare, social security spending, and taxes 

• Why reform is hard 

• Automatic cuts in 2033 

• Defence and education spending 

• Spending more on elderly than children 

• Interest costs and debt sustainability 

• Impact on economy 

• Recent stimulus packages (IRA, ARP, CHIPs) 

• How to fix the budget 

• Previous attempts (Clinton, Obama) 

• US has too many veto points 

• Book recommendation – Artful Work: The Politics of Social Security Reform (Light) 

 

You can follow Marc’s work here and you can try to fix the US budget here. 

 

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(The commentary contained in the above article does not constitute an offer or a solicitation, or a recommendation to implement or liquidate an investment or to carry out any other transaction. It should not be used as a basis for any investment decision or other decision. Any investment decision should be based on appropriate professional advice specific to your needs.)