In the midst of a “bleak” time for the nation’s long-term finances, Phil LaRue, The Concord Coalition’s director of government relations, recently noted three small signs of fiscal life in Washington.
The Congressional Budget Office (CBO) and the Social Security and Medicare trustees continue to point out the dangerous consequences of continued failure to put federal finances on a sustainable path. But some lawmakers and candidates are promising large new tax cuts or benefit increases without considering their costs, LaRue writes in a blog post.
In the midst of a “bleak” time for the nation’s long-term finances, Phil LaRue, The Concord Coalition’s director of government relations, recently noted three small signs of fiscal life in Washington.
The Congressional Budget Office (CBO) and the Social Security and Medicare trustees continue to point out the dangerous consequences of continued failure to put federal finances on a sustainable path. But some lawmakers and candidates are promising large new tax cuts or benefit increases without considering their costs, LaRue writes in a blog post.
However, with the introduction of two new legislative proposals that would reform Social Security and a bill that would require the U.S. comptroller general to provide annual reports to Congress on the fiscal “state of the nation,” a number of elected officials on both sides of the aisle are attacking the problems facing the federal budget.
Congress returns from a lengthy recess for a brief period in September, when it is widely expected that both chambers will scramble to complete a “continuing resolution” to keep the government operating after the fiscal year ends Sep. 30.
