As an economist, I have written extensively about the Swiss debt brake as a potential solution to the U.S. debt crisis.
The United States is experiencing debt fatigue and must enact new fiscal rules to restore sustainable debt levels at both the national and subnational levels.
The Swiss debt brake has proven to be the most effective set of fiscal rules in accomplishing this objective, cutting debt burdens in that country by half.
The Swiss debt brake has been the model for more effective fiscal rules, adopted by European nations and the European Union.
The Swiss debt brake, which assures a balanced budget over the long term, has been effective in large part because it was enacted through initiative and referendum at the cantonal and national levels.
An initiative incorporated the debt brake into the Swiss Constitution.
Swiss citizens approved the debt brake overwhelmingly; about 85 percent expressed their support.
Wednesday, August 26, 2020
Is It time for Americans to adopt the Swiss debt brake?
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