Our Fiscal Future and Economic Prospects Jeffrey Frankel Harpel Professor of Capital Formation and Growth Harvard University. Columbus Partnership Feb. 17, 2006. Short-term economic outlook. The White House has just released its budget and the Economic Report of the President
Feb. 17, 2006
$ ↓ & i ↑ => possible return of stagflation .
=> lower living standards.
may => loss of US global hegemony
how much private saving is left over after financing the budget deficit.
Source: Office of Management and Budget