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22. A New Federal Contribution to the District of Columbia? The Need, Likely Impact, and Some Options
- Author:
- Ed Lazere and David Garrison
- Publication Date:
- 11-2005
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- A 2003 report from the Government Accountability Office (GAO) found that the District of Columbia faces a large structural budget imbalance—that is, a persistent gap between its ability to raise revenues and the cost of providing basic services. DC's imbalance stems largely from its being a "city without a state" and from revenue limitations caused by the federal presence. The most logical solution to this problem would be an annual contribution from the federal government to help address the challenges that arise from DC's unique status as the nation's capital.
- Topic:
- Civil Society, Development, Economics, and Government
- Political Geography:
- Colombia
23. Can Rich Countries Afford to Grow Old?
- Author:
- Gary Burtless
- Publication Date:
- 07-2005
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Observers in many industrialized countries believe population aging represents a serious economic threat. Increases in the percentage of the population past retirement age may impose unsustainable burdens on future workers. Either taxes or government debt will have to rise substantially to pay for old-age income support. This paper considers the extent of these burdens and corrects the widespread impression that the burdens are unsupportable. Population aging means that contributions needed to support the retired elderly must rise. But this extra burden will be at least partly offset by a reduced need to support the dependent young, who will become relatively less numerous. The extra burden of an aging population would be smaller still if labor force participation rates among the working-age and elderly populations increased. Indeed, employment rates among the nonaged have risen in nearly all the industrialized countries as a growing percentage of women has entered the work force. Many countries, including the United States, have adopted policies to encourage work among people past the traditional retirement age.
- Topic:
- Conflict Prevention, International Relations, Economics, Government, and Population
- Political Geography:
- United States
24. Deficits, Interest Rates, and the User Cost of Capital: A Reconsideration of the Effects of Tax Policy on Investment
- Author:
- William G. Gale and Peter R. Orszag
- Publication Date:
- 07-2005
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Under traditional formulations, lower capital income tax rates reduce the user cost of capital and stimulate investment. The traditional approach, however, implictly or explicitly considers a revenue-neutral reduction in capital income taxation. We extend the traditional approach by considering a reduction in taxes that generates an increase in the budget deficit; the expanded budget deficit raises interest rates and the opportunity cost of investment. This provides a mechanism through which tax cuts can raise the cost of capital. Representative calculations show that, even with relatively modest interest rate effects, the net effect of making the Administration's recent tax cuts permanent or a 10-percent reduction in individual income tax rates would be to raise the user cost of capital. Thus, sustained tax cuts can raise the cost of capital and reduce investment.
- Topic:
- Development, Economics, and Government
- Political Geography:
- United States
25. Articulating a Policy Framework for Long-Term Federal Entitlement Reform
- Author:
- James C. Capretta
- Publication Date:
- 07-2005
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- President Bush's top first-term objectives—in the aftermath of the 9/11 terrorist attacks—were waging and winning the global war on terror, significantly enhancing our homeland security systems, and strengthening economic growth.1 With sluggish economic growth following the 2001 recession persisting in 2002 and 2003—due, in part, to the revelation of several corporate governance scandals and the aftermath of technology stock "bubble burst"—the President placed a high premium on tax relief proposals aimed at accelerating the pace of short and long-term economic growth. In this context, it is not at all surprising that large federal budget deficits emerged.
- Topic:
- Security, Economics, and Government
- Political Geography:
- United States
26. Restoring Fiscal Sanity 2005: Meeting the Long-Run Challenge
- Author:
- Alice M. Rivlin and Isabel B. Sawhill
- Publication Date:
- 04-2005
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- Sometimes good news poses hard choices. Over the next several decades Americans will be forced to make difficult decisions necessitated by the good news that people are living longer and that medical care has become far more effective (albeit more expensive) than ever in history. These choices will require adjustments by almost everyone—families, communities, employers, and older people themselves—but they will be most starkly evident in the federal budget.
- Topic:
- Development, Economics, Government, and Human Welfare
27. Homes for an Inclusive City: A Comprehensive Housing Strategy for Washington, D. C.
- Publication Date:
- 06-2004
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- The growth and movement of jobs and population in the Washington, DC metropolitan area and the persistence of the booming housing market in the city have created both a crisis of affordability and an opportunity to strengthen and rebuild portions of the District of Columbia.
- Topic:
- Civil Society, Economics, Government, and Human Welfare
- Political Geography:
- Washington and Colombia
28. Building an Effective, Sustainable Partnership Between the Government and the Private Sector
- Author:
- James B. Steinberg and Gilman Louie
- Publication Date:
- 12-2003
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- The challenge of preventing and responding to the new security threats is very different from the one we, as a nation, faced in the Cold War. Today, the private sector is on the frontline of the homeland security effort: Its members are holders of information that may prove crucial to thwarting terrorist attacks; stewards of critical infrastructure that must be protected and dangerous materials that could be used to do harm; and important actors in responding to attacks. As we said in our first Task Force report, private sector information is essential to counter-terrorism, and government agencies should have timely, needed access to that information, pursuant to guidelines that give confidence that the information will be used in a responsible way.
- Topic:
- Government, National Security, and Terrorism
- Political Geography:
- United States
29. Assessing the Department of Homeland Security
- Author:
- Michael E. O'Hanlon, Peter R. Orszag, James B. Steinberg, Ivo H. Daaldar, James M. Lindsay, Robert E. Litan, Paul C. Light, and I. M. Destler
- Publication Date:
- 07-2002
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- President Bush's June 6 proposal to create a Department of Homeland Security (DHS) would constitute the largest reorganization of the federal government in fifty years. Given the urgency of the terrorist threat, Congress has pledged to act rapidly. It aims to have a bill ready for the President's signature in time for the one-year anniversary of the September 11 terrorist attacks.
- Topic:
- Security, Defense Policy, Government, and Terrorism
30. The Bush National Security Strategy: An Evaluation
- Author:
- Ivo H. Daaldar
- Publication Date:
- 10-2002
- Content Type:
- Working Paper
- Institution:
- The Brookings Institution
- Abstract:
- President Bush's first National Security Strategy presents his vision of “a distinctly American internationalism.” Media reports focused on the Strategy's support for preempting emerging threats militarily, but the 31-page document covers a far broader set of important issues. At its core, the Strategy calls for the United States to use its “unparalleled military strength and great economic and political influence” to establish “a balance of power that favors human freedom” and to defeat the threat posed by “terrorists and tyrants.” These are themes that will likely resonate with the American people, who believe that the United States should play a leading role in making the world a safer and better place.
- Topic:
- Security, Defense Policy, Government, and Terrorism
- Political Geography:
- United States
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