G2TT
来源类型Brief
规范类型简报
Low Interest Rates and Fiscal Policy
Rudolph G. Penner
发表日期2017-01-26
出版年2017
语种英语
概述Ultralow interest rates have made running deficits virtually costless. That is a major reason that policy makers have lost interest in pursuing major deficit reductions. That is in contrast to the 1980s and 1990s when several major deficit reduction packages were enacted. Nevertheless the nation is still on an unsustainable fiscal path as aging baby boomers flood into Social Security, Medicare, and Medicaid.
摘要

Ultralow interest rates have made running deficits virtually costless. That is a major reason that policy makers have lost interest in pursuing major deficit reductions. That is in contrast to the 1980s and 1990s when several major deficit reduction packages were enacted. Nevertheless the nation is still on an unsustainable fiscal path as aging baby boomers flood into Social Security, Medicare, and Medicaid. That is not to deny the hugely beneficial impact falling interest rates have had on the budget. The interest bill has fallen from a post-World War II high of 3.2 percent of GDP in 1991 to 1.3 percent in 2015 despite a two thirds rise in the debt-to-GDP ratio.

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主题Economic Growth and Productivity ; Taxes and Budget
URLhttps://www.urban.org/research/publication/low-interest-rates-and-fiscal-policy
来源智库Urban Institute (United States)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/479591
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Rudolph G. Penner. Low Interest Rates and Fiscal Policy. 2017.
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