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Simon Johnson says the debate on the debt limit overlooks the need to address long-term healthcare and pension costs and to raise revenue, perhaps through a value-added tax (VAT).
RELATED PUBLICATIONS
Congressional Testimony:
Tax Reform and Consumption-based Tax Systems
Congressional testimony submitted to the US House Ways and Means Committee hearing on "Tax Reform and Consumption-based Tax Systems"
July 26, 2011
Congressional Testimony:
Spend Less, Owe Less, Grow the Economy
[pdf]
Testimony submitted to the Joint Economic Committee of Congress, hearing on "Spend Less, Owe Less, Grow the Economy"
June 21, 2011
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Budget Outlook after the State of the Union: Part II February 14, 2013
Budget Outlook after the State of the Union: Part I February 13, 2013
A Trillion Dollar Platinum Solution to the Debt Ceiling? January 10, 2013
Fiscal Cliff-hanger: The US Economic Outlook, Part I November 8, 2012
Fiscal Cliff-hanger: The US Economic Outlook, Part II November 8, 2012
Presidential Debate: A Missed Opportunity October 5, 2012
Will Quantitative Easing (QE3) Do the Trick? Part II September 17, 2012
Will Quantitative Easing (QE3) Do the Trick? Part I September 14, 2012
Of Debts, Markets and 'Fiscal Cliffs' in Europe and the United States: Part II July 5, 2012
Of Debts, Markets and 'Fiscal Cliffs' in Europe and the United States: Part I July 3, 2012