Brian Riedl on the Current and Future Outlook for US Public Finance and Budget Reform
03/27/23 • 53 min
2 Listeners
Brian Riedl is a senior fellow at the Manhattan Institute where he focuses on budget, tax, and economic policy issues. Previously, he worked for six years as chief economist for Senator Rob Portman of Ohio and as staff director of the Senate Finance Subcommittee on Fiscal Responsibility and Economic Growth. He also served as director of budget and spending for Marco Rubio’s presidential campaign and was the lead architect of the 10-year deficit reduction plan for Mitt Romney’s presidential campaign. Brian joins Macro Musings to talk about the outlook of US public finance and the tough choices ahead. Specifically, David and Brian also discuss the surging US debt to GDP ratio, the shortfalls of Republican and Democratic plans for budget reform, Brian’s preferable policy path forward, and much more.
Transcript for the episode can be found here.
Brian’s Twitter: @Brian_Riedl
Brian’s Manhattan Institute profile
David Beckworth’s Twitter: @DavidBeckworth
Follow us on Twitter: @Macro_Musings
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Related Links:
*Biden’s Promises on Social Security and Medicare Have No Basis in Reality* by Brian Riedl
*Biden Is Set to Detail Nearly $3 Trillion in Measures to Reduce Deficits* by Jim Tankersley
Brian Riedl is a senior fellow at the Manhattan Institute where he focuses on budget, tax, and economic policy issues. Previously, he worked for six years as chief economist for Senator Rob Portman of Ohio and as staff director of the Senate Finance Subcommittee on Fiscal Responsibility and Economic Growth. He also served as director of budget and spending for Marco Rubio’s presidential campaign and was the lead architect of the 10-year deficit reduction plan for Mitt Romney’s presidential campaign. Brian joins Macro Musings to talk about the outlook of US public finance and the tough choices ahead. Specifically, David and Brian also discuss the surging US debt to GDP ratio, the shortfalls of Republican and Democratic plans for budget reform, Brian’s preferable policy path forward, and much more.
Transcript for the episode can be found here.
Brian’s Twitter: @Brian_Riedl
Brian’s Manhattan Institute profile
David Beckworth’s Twitter: @DavidBeckworth
Follow us on Twitter: @Macro_Musings
Click here for the latest Macro Musings episodes sent straight to your inbox!
Check out our new Macro Musings merch here!
Related Links:
*Biden’s Promises on Social Security and Medicare Have No Basis in Reality* by Brian Riedl
*Biden Is Set to Detail Nearly $3 Trillion in Measures to Reduce Deficits* by Jim Tankersley
Previous Episode
Steven Kelly on the Silicon Valley Bank Collapse and Its Implications for Financial Policy
Steven Kelly is a senior research associate at the Yale Program on Financial Stability and is a previous guest of the podcast. Steven rejoins Macro Musings to talk about the recent bank collapses at Silicon Valley Bank (SVB) and Signature, the government response, and what this means for financial stability policy in the present and future. David and Steven also discuss the role that interest rate risk and macro policy played in SVB’s failure, the debate over the systemic nature of this crisis, the implementation and use of the Bank Term Funding Program, and more.
Transcript for the episode can be found here.
Steven’s Twitter: @StevenKelly49
Steven’s Substack: Without Warning
David Beckworth’s Twitter: @DavidBeckworth
Follow us on Twitter: @Macro_Musings
Click here for the latest Macro Musings episodes sent straight to your inbox!
Check out our new Macro Musings merch here!
Related Links:
Steven Kelly Twitter thread on SVB
Daniela Gabor Twitter thread on SVB
*Was This a Bailout? Skeptics Descend on Silicon Valley Bank Response* by Jeanna Smialek and Alan Rappeport
*Monetary Tightening and U.S. Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs?* by Erica Jiang, Gregor Matvos, Tomasz Piskorski, and Amit Seru
Next Episode
Kate Judge and Peter Conti-Brown on the Lessons Learned from the 2023 Banking Panic
Kate Judge is a professor of law at Columbia Law School and the editor of the Journal of Financial Regulation, and Peter Conti-Brown is an associate professor of financial regulation and the co-director of the Wharton Initiative on Financial Policy and Regulation at the University of Pennsylvania. Both are also returning guests to the podcast, and they rejoin Macro Musings to talk about the banking panic of 2023 and the lessons learned so far. Specifically, Kate, Peter, and David discuss how the scene was set for this recent banking crisis, the quality of the policy response, how to reform the banking system moving forward, and a lot more.
Transcript for the episode can be found here.
Kate’s Twitter: @ProfKateJudge
Kate’s Columbia Law profile
Peter’s Twitter: @PeterContiBrown
Peter’s UPenn profile
David Beckworth’s Twitter: @DavidBeckworth
Follow us on Twitter: @Macro_Musings
Click here for the latest Macro Musings episodes sent straight to your inbox!
Check out our new Macro Musings merch here!
Related Links:
*Towards an Administrative Law of Central Banking* by Peter Conti-Brown, Yair Listokin, and Nicholas Parrillo
*Money Market Funds Swell by More Than $286bn Amid Deposit Flight* by Brooke Masters, Marriet Clarfelt, and Kate Duguid
*’The Fed Has Mishandled This About 7 Different Ways’: SVB Rescue Sparks Backlash* by Victoria Guida
*Scrap the Bank Deposit Insurance Limit* by Lev Menand and Morgan Ricks
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