As 2021 begins, America is beset by a host of urgent challenges. At home, the nation remains deeply divided in the wake of a bitterly contested election...
Key Takeaways Several times each year, the Congressional Budget Office publishes a baseline – a policy-neutral snapshot of the federal budget meant to inform lawmakers about future trends, such as the sustained imbalance between revenues and spending. Often, the…
Presidential budgets are designed to highlight an administration’s budgetary priorities, how they would affect the economy and how it all adds up. Budgets should be as transparent as possible so that members of Congress, the public and the media…
The federal budget is more than just numbers on a spreadsheet; it reflects our priorities as a nation. The choices we make today -- or fail to…
Introduction Recent reports from the Congressional Budget Office (CBO) and the Government Accountability Office (GAO) have reiterated long-standing warnings that the federal budget suffers from a growing structural gap between projected spending and revenues. If left unaddressed, this structural…
Although Congress has yet to complete its long overdue work on spending plans for the current fiscal year, lawmakers must soon turn their attention to the budget for Fiscal 2019, which begins Oct. 1. Unfortunately, President Trump’s proposed budget fails…
Two deadlines converge by coincidence this year. They are not related to one another and the precise consequences of failing to deal with them in a timely manner are different. Missing either of the deadlines, however, has the potential to…
Congress voted in February 2018 to again suspend the federal debt limit. On March 1, 2019, it went back into effect and was set at the level necessary to include all debt racked up prior to that date ($21.988 trillion). While…