and spending-policy actions, for short--in the United States. First, we estimate simple models of defense expenditures …

When the government runs a deficit, it can borrow from the public—that is, it can create debt. Conversely, when the … the public debt, by comparing previous budget projections with actual outcomes. The authors show that the long-term budget … projected. Accordingly, the authors suggest that prospects for eliminating the public debt may be overstated. …

, budgetary reforms, tax policy and administration measures, public-private partnerships and other innovative financial … infrastructure, public investment, and economic growth, and then goes on to consider the case for additional infrastructure …

The welfare-maximizing income tax structure, rate of money creation, and amounts of intergenerational transfers are … parameter values examined that the income tax structure is progressive, the rate of money change is negative, and positive …