There is no question that the United States is facing significant fiscal challenges. This book also includes a final paper that shows how uncertainty about the restoration of US fiscal balance imposes additional efficiency costs on the economy in consumption, saving, labor supply, and portfolio decisions, and how it reduces individual welfare.
Tax policy was a central part of the recent hyperpartisan debates over the "fiscal cliff." This title features six papers by leading scholars who bring their considerable expertise to bear on issues related to education funding, labor supply, taxation, fiscal adjustments, and the overall US fiscal outlook.
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