Industrial Insight

Is Congress worth its pay? | August 4, 2011

Are Members of Congress Worth Their High Pay?

By Andrew Biggs

August 1, 2011, 1:03 pm

One option I turned to is a measure called “fiscal space,” which was developed as part of a project called the Sovereign Fiscal Responsibility Index published by the Comeback America Initiative (see here for details). Fiscal space represents the amount of additional debt, as a percentage of GDP, a country could theoretically issue before a fiscal crisis is imminent. This is an economic measure, distinct from the legal debt limit. A higher number is better than a lower one.


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