What tools will be at our disposal when the next recession hits?
Thank you very much, again, Dr. Hall. And you spent a lot of time, you and your team here before this committee over the last few months.
We have a deficit problem. We have a debt problem. It must be because of out-of-control spending.
I predicted that the fiscal and budgetary plan of the majority was in two parts.
First, they cut taxes primarily for the wealthy.
I think it is a concern that that trend may continue over the next few years.
The tax bill focused its benefits on the wealthy and corporations.
They have succeeded in making the deficit worse.
The only thing Republicans in Washington like better than complaining about deficits and debt is increasing deficits and debt.
This year's economic and budget outlook offers a contrasting story.
A drop in Federal spending would slow down the economy; just something that large.