Michael Barone | Washington Examiner
James C. Capretta | Real Clear PolicyJames Capretta argues that blaming the GOP tax plan for our country’s fiscal troubles ignores the role entitlement spending plays in crowding out available resources. Left unchecked, entitlement spending will overwhelm the federal government in coming years — regardless of what unfolds with tax cuts. Capretta argues that it would be better for the economy if the GOP followed up the tax legislation with bills containing serious entitlement reforms that would narrow future deficits by amounts that are larger than the tax cuts.
Joseph Antos and James C. Capretta | The Wall Street Journal
Joseph Antos and James Capretta argue that despite the Obama administration’s claim that the Affordable Care Act would help reduce health care costs, recent data show that national spending per capita on health care has grown somewhat faster during the past six years. The authors believe that the key provisions of the law that were supposed to produce savings and efficiencies either have not worked or will never be implemented. Contrary to what was promised, the cost curve for health care has been bent, but in the wrong direction.
The bleak long-run outlook: US fiscal policy and how to improve it
Alex Brill | The Macdonald-Laurier Institute
Alex Brill addresses the impending federal debt crisis facing the United States. Brill argues that when reform occurs, the specific actions undertaken will have meaningful effects on the long-run course of the US economy. For example, unanticipated and large tax increases may induce a recession, while a gradual reduction in entitlement spending for future generations may encourage workers to increase their savings rate and foster long-run growth.
Thomas P. Miller | CATO Regulation Magazine