How Will the Federal Debt Impact Future Generations?
As the federal debt continues to reach unprecedented levels, it poses profound challenges to economic stability, government spending, and the financial security of future generations. In light of the economic and financial implications of the presidential candidates’ main policy proposals, panelists will uncover how federal borrowing impacts interest rates, inflation, and future fiscal policies, and provide a clearer understanding of what rising debt means for the economy at large — and your personal finances.
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Meet the Panelists
Jeremy Siegel, Panelist
Russell E. Palmer Professor Emeritus of Finance
Jeremy Siegel is the Russell E. Palmer Professor Emeritus of Finance at the Wharton School. He is an internationally recognized expert on financial markets and economies. Professor Siegel joined the Wharton School in 1976 as a Professor of Finance and was appointed the Russell E. Palmer Emeritus Professor of Finance in 1998. With a keen interest in macroeconomics, long-run asset returns, financial markets and demographics, his research has helped shape how economists think about vital monetary concepts.
Before joining Wharton, Jeremy held a professorship position at the University of Chicago. He also has prestigious positions at institutions such as the Securities Industry Association Institute as an Academic Director and Wisdom Tree Investments as a Senior Investment Strategy Advisor. He’s also on the board of Zeneca and the Investment Advisory Committee.
With a stellar reputation as one of the most insightful minds in his field, Jeremy is a frequent contributor to Yahoo Finance and Kiplinger’s Personal Finance. His work has been featured in top academic journals, such as the Quarterly Journal of Economics, the Journal of Finance, the American Economic Review, Financial Management and the Journal of Money, Credit, and Banking. He is often requested to provide expert commentary in media outlets, including NPR, CNN, and CNBC.
Jeremy is an accomplished author whose books boast titles such as The Future for Investors (2005), Stocks for the Long Run (1998), and Revolution on Wall Street (1993).
As an accomplished teacher, Jeremy has won numerous awards for his ability to engage and inspire students. He holds the Best Business School Professor award, the Helen Kardon Moss Anvil Award for outstanding MBA teaching, and the Lindback outstanding university teaching Award.
Kent Smetters, Panelist
Boettner Professor of Business Economics and Public Policy, and Faculty Director of the Penn Wharton Budget Model
Dr. Smetters is the Boettner Professor in the Department of Business Economics and Public Policy at the Wharton School of the University of Pennsylvania, and serves as the Faculty Director of The Penn Wharton Budget Model.
Professor Smetters brings a wealth of policy expertise to The Penn Wharton Budget Model, with a strong record of research in public economics as well as work experience in the public sector. Starting in May 2001, he spent 17 months serving as Deputy Assistant Secretary for Economic Policy at the U.S. Department of the Treasury. He subsequently became a member of the bipartisan Blue Ribbon Advisory Panel on Dynamic Scoring, convened by the Joint Committee on Taxation of the U.S. Congress. His experience also includes a position as an economist in the Congressional Budget Office, and as a consultant for the World Bank and the Urban Institute.
Professor Smetters earned bachelor’s degrees in Economics and Computer Science from Ohio State University, and received his MA and PhD degrees in Economics from Harvard University. His research interests include financial regulation, government debt and Social Security policy, and retirement and financial planning. In addition to his faculty position at Wharton, Professor Smetters is a Faculty Research Fellow in the Aging Program at the National Bureau of Economic Research (NBER), as well as a Research Associate in NBER’s Public Economics Program. He also is a member of the National Academy of Social Insurance, and a Research Associate of the Michigan Retirement Research Center and the Pension Research Council.
Professor Smetters’ research has appeared in leading journals, including American Economic Review, Journal of Political Economy, and The Quarterly Journal of Economics. He often is cited in major news outlets such as the Wall Street Journal, Forbes, and Marketplace.
Joao Gomes, Moderator
Senior Vice Dean of Research, Centers, and Academic Initiatives, and Howard Butcher III Professor of Finance
Joao F. Gomes is the Howard Butcher III, Professor of Finance and Senior Vice Dean of Research, Centers, and Academic Initiatives at the Wharton School of the University of Pennsylvania. His expertise is on the role of financial markets to the macroeconomy.
Gomes has published in the top academic journals in both Economics and Finance. His research covers: (i) corporate investment and financing, (ii) the effects of monetary policy on corporate decisions; and (iii) the linkages between firm leverage and investment, equity prices and the cost of capital. He has won multiple awards including the Smith Breeden Prize for Best Asset Pricing Paper published in the Journal of Finance, the Marshall Blume First Prize in Financial Research, the Award for Best Investments Paper presented at the Western Finance Association meetings, the Jacobs Levy Outstanding Paper Prize, and the Crowell Memorial Prize.
Professor Gomes joined the Wharton School in 1997. He was a Visiting Professor at the London Business School and the New University of Lisbon in Portugal. He is currently also a visiting scholar at the Federal Reserve Bank of Philadelphia. Earlier in his career he was an economic advisor in the Ministry of Industry of Portugal.