This is, in effect, the approach I followed in my discussion of the analytics of the policy mix by assuming that monetary policy is reset - albeit indirectly - in response to a change in fiscal policy. Retaining the projected non-social security surplus in the CBO baseline is one alternative.
Economists and policymakers agree on the need to identify the root causes of these trends. This is important not only for understanding the consequences in terms of subdued productivity and falling economic dynamism, but also for designing effective policies to govern them. There is, however, a lack of consensus on the causes underlying these economic developments. At least three conjectures have been put forward.