In a recent podcast and article “The White House Budget: What’s the Reality” by Knowledge@Wharton, the latest budget proposal by the White House was discussed by Kent Smetters (Wharton), Alan Auerbach (UC Berkeley), and David Kamin (NYU).
According to Smetters, the recent emphasis on infrastructure, “will not do much for economic growth” The three professors discussed the administrations too rosy assumptions about economic growth, the impact of ballooning deficits, entitlements, and possibilities for a new value-added tax.