Deficits and Fiscal Policy
Economist Greg Mankiw discusses the current size of the deficit and expresses concern about long-term projections. He explores the potential unsustainability of growing spending on Social Security, Medicare, and Medicaid, and the need for either reining in benefits or increasing taxes. Host Russ Roberts agrees that the political incentives and tools to solve the problem today are lacking, but suggests that future policy changes could help address the issue.In this clip
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