Economists: Future Deficit Tops Immediate U.S. Fiscal Problems

NEW YORK (August 26, 2013)--A survey of 220 members of the National Association for Business Economics found that 43 percent of the economists polled identified budget gaps in the 2020s and 2030s as the top fiscal challenge the country faces, compared with 37 percent who identified projected deficits over the next 10 years.

Ballooning costs for Social Security and Medicare as the U.S. population ages are expected to result in growing long-term budget deficits.

The policy survey found no consensus on the best way to address those deficits, however.

The NABE said there is broader agreement about monetary policy, as most panelists think the Federal Reserve's current policy is "about right."

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