목차
About This Report iii
Summary iv
Figures and Tables ix
Chapter 1. Introduction 1
The Trajectory of Federal Debt Since WWII 3
Future Federal Indebtedness Is Projected to Worsen Considerably 4
Framework 6
Limitations 7
Organization of This Report 8
Chapter 2. How Did the United States Reduce Its Debt Burden Following World War II? 9
Preview of Key Findings in This Chapter 9
Fiscal Context 9
Monetary Context 13
Economic Context 15
Demographic Context 17
Chapter 3. What Would It Take to Cut the Federal Debt Burden? 20
Preview of Key Findings in This Chapter 20
Fiscal Context 21
Growing the Economy 22
Increasing Revenues 30
Cutting Spending 37
Combination of Policies 44
Chapter 4. Conclusions 46
Policy Considerations 47
Next Steps 48
Appendix A. Macroeconomic Projections 50
Appendix B. Congressional Budget Office Workbook Model 54
Limitations 54
Modifications 54
Appendix C. FRB/US Model 55
Limitations 55
Modifications 55
Macroeconomic Implications of Different Strategies to Reduce the Debt Burden 56
Abbreviations 57
References 58
