The debt ceiling is over—finally. But what was missing in all of the partisan bickering?
Front and center should have been reduced spending, or at the very least a spending freeze—and it did occur to an extent. Entitlement reform was hardly discussed, even though other reforms like work requirements were included, reducing the long-term burden of welfare spending while getting Americans back to work.
Still, today’s Congress is a case study in short-termism. The long-term trajectory of the debt and America’s broader economic health depends on one thing: If we’re able to have a growth-minded, dynamic economic strategy, regardless of the theatrics that come with the debt ceiling debate every so often. It remains a big “if.”
Continue reading at Real Clear Markets.
Gonzalo Schwarz is President and CEO at the Archbridge Institute. Gonzalo focuses on researching and writing about the American Dream, social mobility, the economics of human flourishing, economic development, and entrepreneurship. He is the author of the institute’s "American Dream Snapshot” and editor of two publications focused on social mobility in Europe and Latin America. Gonzalo has an M.A. in economics from George Mason University and a B.A. in economics from the Catholic University of Bolivia. You can follow his Substack, "Living the Dream," where he writes about the American Dream.
Economics of Flourishing
The debt ceiling is over—finally. But what was missing in all of the partisan bickering?
Front and center should have been reduced spending, or at the very least a spending freeze—and it did occur to an extent. Entitlement reform was hardly discussed, even though other reforms like work requirements were included, reducing the long-term burden of welfare spending while getting Americans back to work.
Still, today’s Congress is a case study in short-termism. The long-term trajectory of the debt and America’s broader economic health depends on one thing: If we’re able to have a growth-minded, dynamic economic strategy, regardless of the theatrics that come with the debt ceiling debate every so often. It remains a big “if.”
Continue reading at Real Clear Markets.
Gonzalo Schwarz
Gonzalo Schwarz is President and CEO at the Archbridge Institute. Gonzalo focuses on researching and writing about the American Dream, social mobility, the economics of human flourishing, economic development, and entrepreneurship. He is the author of the institute’s "American Dream Snapshot” and editor of two publications focused on social mobility in Europe and Latin America. Gonzalo has an M.A. in economics from George Mason University and a B.A. in economics from the Catholic University of Bolivia. You can follow his Substack, "Living the Dream," where he writes about the American Dream.
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