The Human Side of the Fiscal Crisis

On March 10, the Committee for a Responsible Federal Budget hosted a terrific event entitled America's Fiscal Choices at a Crossroad: The Human Side of the Fiscal Crisis. The event was made possible by the MacArthur Foundation. The purpose was to bring together the major stakeholders and experts on the issues of fiscal reforms, to discuss the benefits of early action to avert a fiscal crisis (whether sudden or gradual) and the calamitous effects a crisis would have on everyday Americans.

The event was moderated by Ruth Marcus of The Washington Post. CRFB’s own Anne Vorce, who was the project's director, also presented her paper at the event that served as the framework for the day’s discussions. She argues that there are two reasonably likely but different scenarios: "Fiscal Gridlock" in which our policymakers do not change our current fiscal path, or "Fiscal Recovery Plan" in which our leaders enact a fiscal recovery package which would put us back on a sustainable budget track.

For the full event summary, click here.