In a change of pace from its usual practice, Congress is allowing a group of temporary tax provisions known as “extenders” to expire at the end of the year.The extenders, like other tax expenditures, are federal subsidies that encourage certain…
In their latest updates on Social Security and Medicare, the trustees for the programs include data that show the growing strain they will put on the rest of the federal budget unless Washington can agree on a long-term fiscal sustainability…
I. Introduction The annual Budget and Economic Outlook released on Feb. 5 by the Congressional Budget Office (CBO) contained some good news. The deficit is coming down. The debt is relatively stable over the coming 10 years. Revenues are going…
“Campaign to Fix the Debt,” a new initiative to push for comprehensive fiscal reform, is being launched in Washington today. The campaign calls the unsustainable long-term path of the federal debt “a grave challenge to our future.” The goal is…