Symposium on the Budget Deficit

Abstract

Is the ballooning federal budget deficit a serious economic problem? The papers in this symposium provide four perspectives on this issue. Robert Barro and Robert Eisner disagree sharply with the “majority” opinion concerning deficits. In contrast, Edward Gramlich and Douglas Bernheim are more sympathetic to the view that budget deficits lower national saving and thus contribute to a reduction in future living standards.

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