Jul 12, 2018 | Budget Process
WATCH: Leon Panetta Testifies Before Budget Process Committee
Committee for a Responsible Federal Budget co-chair Leon Panetta testifies before the Joint Select Committee on Budget and Appropriations Process...
Blog
Welcome to our blog – The Bottom Line, where you’ll find up-to-date commentary and analysis on the most important news in the fiscal world. Below is a list of our blog posts.
Ways and Means Committee Considering $92 Billion of Tax Cuts
The House Ways and Means Committee today is marking up a package of 11 tax bills related to health care. The Joint Committee on Taxation (...
Jul 10, 2018 | Economics
Does CBO "Expect the TCJA to Significantly Boost" the Economy in 2018?
UPDATE: The FRBSF paper has been corrected to remove the erroneous claim that CBO’s growth estimates are well in excess of theirs. The below fact...
Budget Process Changes in the FY 2019 House Budget
The Fiscal Year 2019 House budget resolution contains a number of interesting budget process proposals. The budget passed out of committee last month...
Jul 6, 2018 | Other Spending
By 2048, Only 6% of the Budget Will Go to Children
The Congressional Budget Office's (CBO) recent long-term budget outlook not only forecasts rapidly rising levels of debt but also suggests...
Jul 3, 2018 | Social Security
CBO Projects Social Security Will Run Out of Funds in 13 Years
As we've warned many times before, Social Security is rapidly headed toward insolvency. Recent projections from CBO's Long-Term Budget Outlook...
Jul 2, 2018 | Health Care
Health Care Spending in the Long-Term Outlook
The Congressional Budget Office's (CBO) long-term outlook shows debt reaching an all-time record as a share of GDP by 2034 and nearly doubling as a...
The Deficit Is Not "Coming Down Rapidly"
This morning, White House National Economic Council Director Larry Kudlow appeared on Fox Business and made the following claim (emphasis added...
Jun 28, 2018 | Health Care
Concerned Actuaries Group Publishes New Analyses on Health Care System’s Sustainability
Last month, the Committee for a Responsible Federal Budget and the Concerned Actuaries Group launched the American Health Care Initiative, a...
Jun 28, 2018 | Budget Process
CBO is Pretty Good at Estimating Spending
In March 2016, CBO estimated the federal government would spend $4.06 trillion for fiscal year (FY) 2017 – a number that would increase to $4.08...
Jun 26, 2018 | Budgets & Projections
CBO Releases 2018 Long-Term Outlook
The Congressional Budget Office (CBO) just released its annual Long-Term Budget Outlook, which shows the United States is on an unsustainable fiscal...
Jun 21, 2018 | Budgets & Projections
How the House Could Meet the Budget Resolution's Reconciliation Instructions
The FY 2019 House budget resolution calls for $6.5 trillion of policy savings over ten years, but the true action is in the reconciliation...
Jun 21, 2018 | Budget Process
Maya MacGuineas: Rescission Fight About Much More than a Few Billion Dollars
Maya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. She recently wrote an ...
Jun 21, 2018 | Other Spending
Did the U.S. Really Spend $7 Trillion on Middle Eastern Wars?
In a roundtable in Minnesota yesterday, President Donald Trump claimed "we have $7 trillion in the Middle East", a rephrasing of his previous claims...
Jun 20, 2018 | Budgets & Projections
Goldman Sachs Warns that the US Fiscal Outlook is “Not Good”
In a report released last month by Goldman Sachs, Chief Economist Jan Hatzius describes the U.S. fiscal outlook as “not good.” If left unchanged...
Jun 19, 2018 | Budgets & Projections
Summarizing the FY 2019 House Budget Resolution
House Budget Committee Chairman Steve Womack (R-AR) released his Chairman's Mark of the House FY 2019 budget resolution. The budget resolution calls...
Jun 18, 2018 | Other Spending
Options for the Pension Committee to Consider
As we recently explained, proposals from the Joint Select Committee on Solvency of Multiemployer Plans could include considerable costs. The Joint...
Jun 15, 2018 | Taxes
After Tax Reform, Tax Expenditures Remain Costly
The Joint Committee on Taxation (JCT) recently released its latest tax expenditure estimates. The report shows that despite the 2017 tax law, ...
Jun 12, 2018 | Health Care
Medicare Advantage Proposal Reforms Benefits and the Bidding Process
The Medicare Trustees recently delivered a reminder of the importance of reducing Medicare costs. As Steven M. Lieberman, Loren Adler,...
Jun 11, 2018 | Other Spending
CRFB on Facing the Future: Federal Investment in Children is Dwindling
Children are getting an increasingly small share of the federal budget, even as we are burdening them with immense debt. In an episode of the Concord...
