George Hall on the Fiscal Consequences of the US War on COVID

乔治·霍尔关于美国对抗COVID战争财政后果的分析

Macro Musings with David Beckworth

2025-07-21

52 分钟
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单集简介 ...

Check out David's Substack: Macroeconomic Policy Nexus for a special 500th episode post! George Hall is a professor of economics at Brandeis University and formerly worked as an economist at the Chicago Federal Reserve Bank. George returns to the show to discuss the current fiscal status of the US, how the Big Beautiful Bill will impact the fiscal outlook going forward, the history of running deficits in the US, and much more.  Check out the transcript for this week’s episode, now with links. Recorded on June 24th, 2025 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow George on X: @George_J_Hall Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Subscribe to David's new BTS YouTube Channel  Timestamps 00:00:00 - Bumper 00:00:29 - Intro 00:01:55 - Current US Fiscal Status 00:05:45 - What Is Inflation? 00:10:18 - Fiscal Consequences of the US War with COVID 00:23:21 - World War COVID 00:25:05 - Before and After War 00:34:02 - Financing with Inflation 00:38:47 - World War II Period vs. Today 00:38:47 - World War II Period vs. Today 00:44:19 - Who Bears the Fed’s Losses? 00:47:14 - How to Foot the Big, Beautiful Bill 00:52:10 - Outro
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单集文稿 ...

  • Hey Macromusing listeners, this is your host David Beckworth.

  • This week's episode is number 500 and the Macromusing team is thrilled to reach this milestone.

  • It's hard to believe we've been doing this show since early 2016.

  • In commemoration of this moment,

  • we have recorded a video of myself and a special guest reflecting back on this journey.

  • The video is posted in my latest Substack newsletter,

  • so go check it out and subscribe if you haven't already.

  • Now onto the show.

  • Welcome to Macro Musings,

  • where each week we pull back the curtain and take a closer look at the most important macroeconomic issues of the past,

  • present and future.

  • I am your host, David Beckworth,

  • a senior research fellow with the Mercatus Center at George Mason University,

  • and I'm glad you decided to join us.

  • Our guest today is George Hall.

  • George is Professor of Economics at Brandeis University and formerly an economist at the Chicago Federal Reserve Bank.

  • George has written widely on the history of US public finance and joins us today to discuss the lasting fiscal consequences of the US war on COVID.

  • George, welcome back to the program.

  • It's great to be back.

  • It's great to have you on.