The book addresses annual and lifetime distributional effects, saving, investment, transitional problems, simplification, home ownership and housing prices, charitable groups, international taxation, financial intermediaries and insurance, labor supply, and health insurance.
In addition to Henry Aaron and William Gale, the contributors include Alan Auerbach, University of California, Berkeley; David Bradford, Princeton University; Charles Clotfelter, Duke University; Eric Engen, Federal Reserve; Don Fullerton, University of Texas; Jon Gruber, Massachusetts Institute of Technology; Patric Hendershott, Ohio State; David Ling, University of Florida; Ronald Perlman, Covington & Burling; Diane Lim Rogers, Congressional Budget Office; John Karl Scholz, University of Wisconsin; Joel Slemrod, University of Michigan; and Robert Triest, University of California, Davis.
This book brings together a prominent group of experts to answer this critical question. Edited by Henry Aaron and Charles L. Schultze, two of the nation's most noted and experienced economists, the book focuses on the crucial domestic and social issues confronting America today.
Seven vital areas are discussed by the following contributors: Henry Aaron on health care; Gordon L Berlin and William McAllister on homelessness; Linda R Cohen and Roger G. Noll on research and development; John J. DiIulio, Jr., on crime; Frank Levy and Richard J. Murnane on education and training; Isabel V. Sawhill on children and families; and Clifford M. Winston and Barry P. Bosworth on infrastructure. In each problem area, the authors use the results of research and analysis to identify existing or proposed governmental interventions that are likely to work, as well as some that are likely to fail and some that need to be reformed. They then present a budget proposal that not only pays for suggested changes in domestic policy, but brings the budget into virtual balance in ten years.
Workers would spend more years paying taxes and fewer years drawing pension and health benefits. But how much difference to spending and revenues would longer working lives make? What steps could be taken to make longer working lives attractive? And what would happen to older Americans not in a position to prolong their work lives? Leading scholars examine these issues in Closing the Deficit, edited by Brookings economists Gary Burtless and Henry Aaron.
In this book, the sixteenth volume in the Brookings series in Social Economics, Henry Aaron describes both the initial consensus and its subsequent decline. He examines the evolution of attitude and pronouncements by scholars and popular writers on the role of the federal government and its capacity to bring about beneficial change in three broad areas: poverty and discrimination, education and training, and unemployment and inflation. He argues that the political eclipse of the Great Society depended more on events external to it—war in Vietnam, dissolution of the civil rights coalition, and, finally, the Watergate scandal and all its repercussions—than on its intrinsic failings. Aaron concludes that both the initial commitment to use national polices to solve social and economic problems and the subsequent disillusionment of scholars and laymen alike rest largely on preconceptions and faiths that have little to do with research themselves.