Authors

William Gale

Arjay and Frances Miller Chair in Federal Economic Policy in the Economic Studies Program

Brookings Institution

William G. Gale is the Arjay and Frances Miller Chair in Federal Economic Policy in the Economic Studies Program at the Brookings Institution. His research focuses on tax policy, fiscal policy, pensions and saving behavior. He is co-director of the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute. He is also director of the Retirement Security Project. From 2006 to 2009, he served as vice president of Brookings and director of the Economic Studies Program. Gale is the author of Fiscal Therapy: Curing America’s Debt Addiction and Investing in the Future (Oxford University Press, 2019). He earned a Ph.D. in Economics from Stanford University and an A.B. from Duke University and attended the London School of Economics as an undergraduate.

Publications

Fiscal Policy With High Debt and Low Interest Rates

Overview: The U.S. budget trajectory is in uncharted territory. The country faces a structural deficit, accrued the largest increase in debt on record during the current economic recovery, and is expected to surpass its WWII-era debt-to-GDP record of 106 percent within the next 30 years. Gale argues that although historically low interest rates reduce the […]