Economic Growth and Public Policy: Data, Not Debt, is the Solution

Kent Smetters has experienced public policy on the economy from inside and outside the federal government. The economist and Wharton school professor helps us explore the use of economic modeling in influencing public policy and examines the potential impact of fiscal challenges and tax legislation changes. He joins Gene Marks on Paychex THRIVE, a Business Podcast, to talk about the many factors impacting economic growth, and how educating the current and next generation of executives can equip them to make more informed decisions on the economy.

Topics Include: 00:00:00: Episode preview

00:01:14: Introduction of Kent Smetters

00:03:12: Changing dynamics of MBA candidates

00:05:19: The many hats of an economist

00:06:07: Working with policymakers on economic impact analysis

00:07:04: Discussions on upcoming tax provisions

00:08:02: Balancing the cost of capital and national debt

00:08:38: Influence and work process of Wharton on legislation

00:19:39: Importance of honest broker analysis in policy decisions

00:22:16: Strategies for integrating more STEM personnel into our economy

00:23:29: Discussion on U.S. fiscal situation and debts and deficits

00:25:05: Projection of unsustainable debt level in U.S.

00:26:03: Hiking taxes and spending cuts only solution for deficit

00:27:07: Consequences of spending cuts on Social Security

00:28:13: Concerns about current approach in U.S. of dealing with crises

00:29:16: Effect of inflation on wealth over time

00:32:17: Implications of printing more money

00:35:06: Wrap-up and thank you

 

DISCLAIMER: The information presented in this podcast, and that is further provided by the presenter, should not be considered legal or accounting advice, and should not substitute for legal, accounting, or other professional advice in which the facts and circumstances may warrant. We encourage you to consult legal counsel as it pertains to your own unique situation(s) and/or with any specific legal questions you may have.