Our nation still faces a severe long-term budget imbalance that will force Congress and the president to make choices that both political parties would prefer to avoid.
The recent Senate agreement on unemployment benefits combines two big policy mistakes: a corporate welfare provision that lets employers underfund their workers’ pensions and a (largely retroactive) extension of unemployment benefits that does nothing to cure the long-term unemployment crisis.
After 50 years of the War on Poverty, we have neither a clearly defined mission nor a consensus on policy options. We don’t even have a good way to measure poverty. President Obama’s fiscal year 2015 budget is an example of the jumble that U.S. anti-poverty efforts have become, featuring both ill-conceived and promising policies
I think it is incorrect to describe the entire Obama budget released on Tuesday as “dead on arrival.” Yes, the document was full of retread proposals that did not find favor in previous years and are no more likely to be enacted in 2014.
This is a time when Republicans and Democrats need to work together to make the economic recovery a reality for the millions of people living in poverty and unemployment.
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If we want to keep our current tax and benefit structure, which features a relatively high tax burden at the top and a low burden on the middle class, as well as welfare benefits that phase out rapidly with income, then we will need to sharply curb entitlement spending.
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