Restoring Sustainable Macroeconomic Policies in the United States by Barry W Poulson

Restoring Sustainable Macroeconomic Policies in the United States by Barry W Poulson

Slowing economic growth and debt fatigue continue to hamper fiscal policy in the United States. The question is whether there is an alternative path to the one projected in CBO long term forecasts, and if so, how citizens can choose this alternative path. The experiences of Germany, Sweden, and Switzerland reveal that an alternative path of sustainable debt is possible, and that citizens in a democratic society are capable of choosing that path. This book explores the potential impact of Swiss-style fiscal rules on the U.S. budget and the economy over the next three decades. The dynamic simulation analysis reveals that with these fiscal rules in place, it is possible for the U.S. to stabilize and reduce debt to sustainable levels over the forecast period. The government must preserve policy credibility by demonstrating a commitment to meet the challenges of economic shocks. The recent economic crises have provided a learning experience, and the rules-based macroeconomic framework required for this new era may differ significantly from that of the past. With new fiscal rules in place, the U.S. can restore long term economic growth. However, empirical analysis reveals how difficult this challenge will be, and why the U.S. is likely to continue to experience debt fatigue.

Poulson and Merrifield illuminate the hidden, but exorbitant, social cost of current US fiscal policy and identify a sustainable, pro-growth, Federalist founders-inspired alternative. A must read for policy makers and staff.

-- Marvin Phaup, George Mason University

Most American voters, and most American policy makers, recognize that the federal government’s deficit spending is generating unsustainable growth in the national debt, yet deficit spending continues unchecked. Barry Poulson and John Merrifield explain why deficit spending continues, and offer commonsense policy recommendations to bring deficit spending under control.

-- Randall G. Holcombe, Florida State University

Barry W. Poulson is emeritus professor of economics at the University of Colorado.
John Merrifield is head of the Institute for Objective Policy Assessment and was a member of the faculty at the University of Texas at San Antonio for 32 years.

SKU	Unavailable
ISBN 13	9781666916607
ISBN 10	1666916609
Title	Restoring Sustainable Macroeconomic Policies in the United States
Author	Barry W Poulson
Condition	Unavailable
Binding Type	Hardback
Publisher	Lexington Books
Year published	2022-10-12
Number of pages	202
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.