(Solved) Recall the Application about how to measure the long-run fiscal imbalances in the United States to ...

Recall the Application about how to measure the long-run fiscal imbalances in the United States to answer the following question(s). Even though federal budget-deficit projections have increased in recent years, they still do not accurately portray the long-run fiscal problems facing the United States. As the population ages, life expectancies increase, and health-care costs continue to grow, expenditures on Social Security and Medicare are expected to increase significantly, too. Economists Jagadeesh Gokhale and Kent Smetters have developed a comprehensive measure of the nation's indebtedness that they call the "fiscal imbalance."

According to this Application, in 2005, the U.S. fiscal imbalance was approximately $63 trillion, or 5 times GDP. To eliminate this fiscal imbalance, policymakers would need to

▸ increase taxes and/or increase expenditures.

▸ increase taxes and/or decrease expenditures.

▸ reduce taxes and/or increase expenditures.

▸ reduce taxes and/or decrease expenditures.

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.

Recall the Application about how to measure the long-run fiscal imbalances in the United States to ...

Macroeconomics: Principles, Applications and Tools

Related Topics