As the U.S. economy regains its footing after the damage caused by the COVID-19 pandemic, policymakers must shift their attention to the pre-existing structural imbalances that have put us on a path of chronically slow economic growth and unsustainable debt over the long-term.

Even before the pandemic hit, the nonpartisan Congressional Budget Office (CBO) estimated that real GDP growth would average less than two percent annually over the long-term and that budget deficits would top one trillion dollars or more every year into the future. Debt held by the public was projected to more than double over the next 30 years.

This was the pre-pandemic “normal.” It is not an acceptable goal for recovery. Instead, policymakers should set their standards higher, to achieve an economy that grows at a more robust pace and a fiscal policy that can be sustained over the long-term.

While the pandemic required a vigorous response, it did not change two fundamental facts:

The economy is suffering from deep structural challenges stemming from declining workforce growth and stagnant productivity.

The budget is on an unsustainable path, with costs for major retirement and health care programs projected to grow substantially faster than revenues.

To address these issues, the UWG Ctr. for Econ. Ed. & Fin. Lit. and The Concord Coalition are proud to host three nationally renowned fiscal experts from our nation's capital: Steve Robinson (UWG Alumnus & chief economist for The Concord Coalition), Romina Boccia (Director of Budget & Entitlement Policy at the Cato Institute), and Ben Gitis (Associate Director for the Bipartisan Policy Center's Economic Policy Program).