David Kamin (NYU) presents Are We There Yet?: On a Path to Closing America's Long-Run Deficit, 137 Tax Notes 53 (Oct. 1, 2012) at NYU today as part of its Colloquium Series on Tax Policy and Public Finance convened by Daniel Shaviro (NYU) and William Gale (Tax Policy Center; visiting at NYU):
Many decry the fact that
policymakers are nowhere
close to addressing the longterm
fiscal shortfall and as evidence they point to
the Congressional Budget Office’s projection of
enormous long-term deficits under current policy.
This report contends that the minimum deficit
reduction incorporated in leading progressive and
conservative budgets can put us on a path toward
closing the long-term deficit. A significant gap
would remain even if consensus were fully realized.
However, this report describes a plausible
path for further cutting the long-term deficit, as
well as important revenue and spending backstops.
Finally, it explains that while the country can and
should try to reach a fiscally sustainable path,
because of the uncertainty surrounding many of
those reforms — especially the restructuring of the
healthcare system — we cannot expect an immediate
solution.
Update: Dan Shaviro blogs the workshop here.



