2020 Election Series — Fiscal Policy and the U.S. Economy in the Wake of Covid-19: Taxes, Spending and Economic Growth

Robust economic growth has long been the engine of prosperity in the United States, resulting in a sustained increase in American living standards. Prospects for future American economic growth, however, remain uncertain. Technological advances, especially in artificial intelligence, are likely to result in rapid increases in future growth. Yet recent economic, demographic, social and political trends are creating pervasive headwinds that will mitigate U.S. economic expansion. These trends include an ineffective American educational system, increasing income inequality, an aging population, a lower labor force participation rate and insufficient political will to address large-scale fiscal imbalances. In addition, the ongoing pandemic has resulted in large declines in output and employment and large increases in spending, deficits and debt.

At this webinar, Baker Institute public finance fellows Jorge Barro, Joyce Beebe, Richard Evans and John Diamond joined Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget, to discuss these issues along with the outlook for fiscal policy and economic growth, depending on the results of the coming election.

This event, sponsored by the Center for Public Finance, is part of the Baker Institute 2020 Election Series, which highlights critical policy issues ahead of the 2020 presidential election. This webinar series features institute fellows, scholars and guests discussing a range of critical domestic and foreign policy issues in the lead up to November 3.

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