In a 1989 article in this Review, John K. Hill argued that the mere aging of the baby boom generation would cause the United States to become a major capital exporter by the end of the century. To reach that conclusion, he assumed that rising U.S. capital outflows could be absorbed by the rest...

The government increased payments to individuals without reducing spending elsewhere in the budget.

Each year, the Congressional Budget Office (CBO) publishes its Budget and Economic Outlook. The CBO’s deficit projections for the current fiscal year (FY) and the next 10 FYs are widely followed because they provide an assessment of the medium-term budget outlook based on current law and a...

All five peripheral EU countries face burdensome public debt and budget deficits, but the causes for uncertainty in each country?s situation differ.

Minneapolis Fed Vice President Preston Miller suggests that long-term federal budget problems, exacerbated by the needs of an aging population, might be alleviated by a new approach to funding benefits received by that same aging population.

An examination of the various factors that have determined the level and growth of the federal debt over the past 40 years, with some perspective on future levels of federal debt.