The Treasury Department released the President's Framework for Business Tax Reform on February 22, 2012. The press release states, "Treasury released the President's framework for reforming the U.S. business tax system, which would enhance American competitiveness by simplifying the tax code and eliminating dozens of tax loopholes and subsidies, incentivizing job creation and investment here at home and lowering the business rate while broadening the tax base."

Benn Steil's Wall Street Journal op-ed argues that the Fed's recent 3-year low interest rate pledge, combined with an inflation target below current inflation levels, is misguided, given its persistently poor track record with economic forecasting.

Foreign Policy's Clyde Prestowitz writes that the United States shouldn't pretend China is interested in free trade. China's neo-mercantile policies have precedent in Japan, South Korea, Brazil, Germany, and large portions of the rest of the world, he writes--why should China be avoiding the fiscal gray areas that have worked for others?

China's cheap labor is reaching a tipping point, writes New York Times' Michelle Dammon Loyalka. Is Obama right to suggest that manufacturing may return to the United States?

Obama recently presented a number of new proposals concerning the housing market. ProPublica's Cora Currier goes through them, breaking down where each proposal comes from and what will most likely happen moving forward.

To achieve sustainable economic growth, Michael Spence says education and values must promote greater awareness of the consequences of individual and collective choices.

Joshua Kurlantzick explores the challenges of Myanmar's business environment.

This report by International Economy presents views of several influential economic thinkers on whether enactment of tax reform should be a top priority.

The Obama administration's 2013 budget plan has revived debate over the sustainability of U.S. spending. This Backgrounder outlines the competing policy paths on fiscal reforms and the global consequences for failing to bring down U.S. debt.

Sebastian Mallaby explains how Robert Zoellick has guided the World Bank into an era of greater transparency, collaboration, and innovation.

Election year doesn't have to be a wasted year on the fiscal front, say Pete V. Domenici, Co-Chair of the Bipartisan Policy Center's Debt Reduction Task Force and Alice M. Rivlin, Senior Fellow for Economic Studies at the Brookings Institution, emphasizing the need to slow down the growth of major entitlements and raise additional revenue from an efficient tax system.

Unlike its Arctic neighbors, the United States is failing to take full advantage of the tremendous economic potential of the Arctic region. Captain Melissa Bert argues for U.S. ratification of the Law of the Sea Convention; international polar shipping standards; and an aircraft, icebreaker, and shore-based infrastructure acquisition program funded by Arctic oil and gas lease proceeds.

The Congressional Budget Office (CBO) released its yearly Budget and Economic Outlook report on "'baseline' budget projections spanning the next 10 years. Those projections are not a forecast of future events; rather, they are intended to provide a benchmark against which potential policy changes can be measured." The report covers 2012-2022.

Peter Orszag outlines five basic principles for U.S. fiscal policy to follow: continue short-term economic support, enact automatic stabilizers, couple stimulus with delayed deficit reduction, raise additional revenue, and move forward on small-scale policy issues.

The eurozone, once seen as a crowning achievement in the decades-long path of European integration, is buffeted by a sovereign debt crisis of nations whose membership in the currency union has been poorly policed.

The Economist comments on Obama's recently released federal budget: as a fiscal document, it is optimistic though not unreasonable; as a political move, it is an early campaign promise towards reelection.

Joseph Coughlin and Kelly Michel discuss how a healthy and active aging population can contribute to economic growth, and the public policy reform, new business strategies, and profound shifts in views on aging necessary to take advantage of this opportunity.

The White House released this joint statement on the U.S. and China's economic relationship on February 14, 2012.

Joseph Coughlin and Kelly Michel discuss how a healthy and active aging population can contribute to economic growth, and the public policy reform, new business strategies, and profound shifts in views on aging necessary to take advantage of this opportunity.

Charles A. Kupchan says internal renewal is vital to the West's future strength, but moreover, even if the West is able to regain its internal vitality and enlarge its footprint, it will still have to manage the transition to a world with multiple centers of power.