May 2, 2024
2 min
Is the bubble about to burst again on the country's economy?
A recent article by Bloomberg News paints a picture of what lies ahead - and the predictions look bleak at best.
The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97% of GDP last year to 116% by 2034 — higher even than in World War II. The actual outlook is likely worse.
From tax revenue to defense spending and interest rates, the CBO forecasts released earlier this year are underpinned by rosy assumptions. Plug in the market’s current view on interest rates, and the debt-to-GDP ratio rises to 123% in 2034. Then assume — as most in Washington do — that ex-President Donald Trump’s tax cuts mainly stay in place, and the burden gets even higher.
With uncertainty about so many of the variables, Bloomberg Economics has run a million simulations to assess the fragility of the debt outlook. In 88% of the simulations, the results show the debt-to-GDP ratio is on an unsustainable path — defined as an increase over the next decade. April 01 - Bloomberg
The economy is in the news every day - and if you're a journalist looking to know what the future may hold - then let us help with your coverage and questions.
Professor Lee Branstetter is a research associate of the National Bureau of Economic Research and nonresident senior fellow at the Peterson Institute for International Economics. He is available to speak with media about the economy - simply click on his icon now to arrange an interview today.
Lee Branstetter's research interests include the economics of technological innovation, and economic growth in East Asia.
1 min
Carnegie Mellon University’s artificial intelligence experts come from a wide range of backgrounds and perspectives, representing fields including computer science, sustainability, national security and entrepreneurship. Ahead of the AI Horizons Summit highlighting the city's commitment to responsible technology, CMU experts weighed in on why they see Pittsburgh as a hub for human-centered AI.
1 min
Earlier this month, alarm bells were ringing at the Justice Department after a Jordanian citizen was arrested for targeting and breaking into solar power facility farm in Florida. During that same time period, energy facilities in New Jersey and Idaho also came under attack. The attacks were politically motivated and have led national media outlets like USA Today to contact experts from Carnegie Mellon University to help explain the situation and break if all down. The Department of Homeland Security has issued warnings that domestic extremists have been developing "credible, specific plans" since at least 2020 and would continue to "encourage physical attacks against electrical infrastructure." Industry experts, federal officials, and others have warned in one report after another since at least 1990 that the power grid was at risk, said Granger Morgan, an engineering professor at Carnegie Mellon University. One challenge is that there's no single entity whose responsibilities span the entire system, Morgan said. And the risks are only increasing as the grid expands to include renewable energy sources such as solar and wind, he said. August 15, 2024 - USA TODAY Professor Granger's comments are startling as America's vulnerabilities to important infrastructure seem to be more exposed than ever. And if you're a journalist looking to cover this emerging topic - then let us help with your questions and stories. Morgan Granger is available to speak with media - simply click on his icon below to arrange an interview today. Photo Credit: Zbynek Burival
2 min
The topic of Artificial Intelligence (AI) is beginning to dominate a lot of conversations and even conferences across the planet. And recently, Rayid Ghani, a Distinguished Career Professor in the Machine Learning Department and the Heinz College of Information Systems and Public Policy at Carnegie Mellon University was part of an in-depth article that explored if AI could be expected to play a positive role in the future of humankind. In fact, it asked if we could soon expect AI to do the heavy lifting with regards to major problems like global warming that we're all trying to solve. The answers experts offered were varied and some a bit surprising but for the most part AI can help ... but we humans need to do a lot of the work. Today, AI is already proving itself in prediction and warning systems in the event of tornadoes or forest fires, for example. It is then necessary to evacuate populations, or for humans to agree to be vaccinated in the event of a pandemic, underlines Rayid Ghani, of Carnegie Mellon University. “We created this problem, not AI. Technology can help us… A little,” he clarified. “And only if humans decide to use it to tackle problems.” March 17 - The Archide It is a fascinating article and well worth the read. And if you are a journalist looking to know more about Artificial Intelligence and what we can expect in the future - let us help with your coverage. Rayid Ghani is a reformed computer scientist who wants to increase the use of large-scale Machine Learning in solving large public policy. Rayid Ghani is available to speak with media - simply click on his icon now to arrange an interview today.
Check out some other posts from Carnegie Mellon University
1 min
Carnegie Mellon University’s artificial intelligence experts come from a wide range of backgrounds and perspectives, representing fields including computer science, sustainability, national security and entrepreneurship. Ahead of the AI Horizons Summit highlighting the city's commitment to responsible technology, CMU experts weighed in on why they see Pittsburgh as a hub for human-centered AI.
1 min
Earlier this month, alarm bells were ringing at the Justice Department after a Jordanian citizen was arrested for targeting and breaking into solar power facility farm in Florida. During that same time period, energy facilities in New Jersey and Idaho also came under attack. The attacks were politically motivated and have led national media outlets like USA Today to contact experts from Carnegie Mellon University to help explain the situation and break if all down. The Department of Homeland Security has issued warnings that domestic extremists have been developing "credible, specific plans" since at least 2020 and would continue to "encourage physical attacks against electrical infrastructure." Industry experts, federal officials, and others have warned in one report after another since at least 1990 that the power grid was at risk, said Granger Morgan, an engineering professor at Carnegie Mellon University. One challenge is that there's no single entity whose responsibilities span the entire system, Morgan said. And the risks are only increasing as the grid expands to include renewable energy sources such as solar and wind, he said. August 15, 2024 - USA TODAY Professor Granger's comments are startling as America's vulnerabilities to important infrastructure seem to be more exposed than ever. And if you're a journalist looking to cover this emerging topic - then let us help with your questions and stories. Morgan Granger is available to speak with media - simply click on his icon below to arrange an interview today. Photo Credit: Zbynek Burival
2 min
The topic of Artificial Intelligence (AI) is beginning to dominate a lot of conversations and even conferences across the planet. And recently, Rayid Ghani, a Distinguished Career Professor in the Machine Learning Department and the Heinz College of Information Systems and Public Policy at Carnegie Mellon University was part of an in-depth article that explored if AI could be expected to play a positive role in the future of humankind. In fact, it asked if we could soon expect AI to do the heavy lifting with regards to major problems like global warming that we're all trying to solve. The answers experts offered were varied and some a bit surprising but for the most part AI can help ... but we humans need to do a lot of the work. Today, AI is already proving itself in prediction and warning systems in the event of tornadoes or forest fires, for example. It is then necessary to evacuate populations, or for humans to agree to be vaccinated in the event of a pandemic, underlines Rayid Ghani, of Carnegie Mellon University. “We created this problem, not AI. Technology can help us… A little,” he clarified. “And only if humans decide to use it to tackle problems.” March 17 - The Archide It is a fascinating article and well worth the read. And if you are a journalist looking to know more about Artificial Intelligence and what we can expect in the future - let us help with your coverage. Rayid Ghani is a reformed computer scientist who wants to increase the use of large-scale Machine Learning in solving large public policy. Rayid Ghani is available to speak with media - simply click on his icon now to arrange an interview today.
