Shannon Leon is a fiscal policy analyst for the Progressive Policy Institute.
Guess who said this: “The full consequences of a default – or even the serious prospect of default – by the United States are impossible to predict and awesome to contemplate. Denigration of the full faith and credit of the United States would have substantial effects on the domestic financial markets and the value of […]
Last week, President Obama vented his frustration at Congressional Republicans for storming out of White House budget talks over raising the debt ceiling. Anyone who thinks the president overreacted should look to the Congressional Budget Office’s (CBO) latest budget forecast, which warns that the national debt is poised to spiral out of control. Released on […]
U.S. elected leaders are desperately searching for ways to reduce the nation’s colossal debt without casting career-damaging votes for hiking revenues and slashing spending. Policy-makers are now turning to a technical fix in how the government measures inflation not only to fight the deficit, but also to circumvent political backlash. Currently, the Bureau of Labor […]