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
Our Fiscal Futureand Economic ProspectsJeffrey FrankelHarpel Professor of Capital Formation and GrowthHarvard University
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