As the U.S. approaches its debt limit, policymakers are exploring ways to address the situation. “It’s reasonable to expect that at the end of the day, we would end up with the same pressures to increase spending,” fellow John Diamond said.
As a long-term deal to raise the debt ceiling appears increasingly out of reach, many are looking back at the Budget Control Act of 2011. “When you look at every piece of subsequent legislation, it just got unraveled,” fellow John Diamond says of the act.
With the labor market holding strong, companies raising wages to keep and attract workers could lead to persistent inflation — an especially important issue thanks to an aging U.S. population and its effect on the workforce, said fellow John Diamond.
What factors are behind the Social Security cost-of-living boost — the biggest cost-of-living adjustment since 1981? John Diamond, the director of the Center for Public Finance, answers this question and explains the history of Social Security COL increases in a new commentary.
What's driving ongoing inflation, and what's needed to curb it? Public finance fellow John Diamond joined Town Square Talk to discuss.