Media & TV Appearances

Balanced budget amendment may be needed. From Ancient Rome to modern America, great powers have fallen when their politics could not keep up with economics.

 

And now the U.S. faces a financial imbalance that threatens its world leadership as an economy and a power, says Glenn Hubbard, dean of Columbia University’s Graduate School of Business in a new book, ‘Balance,’ coauthored with Tim Kane, the chief economist of the Hudson Institute.Hubbard notes that Medicare outlays were $14.1 billion in 1975. They have spiraled to $520.4 billion in 2010.