Facing The Future: The Penn Wharton Federal Budget Model Predicts Higher Debt and Lower Productivity

This week on Facing the Future, we get the long term perspective on the federal budget and our national debt from Kent Smetters, faculty director of the well-respected Penn Wharton Budget Model. The Budget Model looks at long term trends impacting the federal budget such as projected revenues and expenditures, plus demographics that are already starting to have an enormous impact as the Baby Boomers retire. Dr. Smetters sees our national debt growing higher and faster than ever, and a less productive economy in the future.