The House of Representatives is expected to approve a new rule requiring the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) to incorporate the estimated macroeconomic effects of major legislation into their official scores. This process, often…
President Obama and Congress may have put fiscal sustainability on the back burner, but the Government Accountability Office (GAO) has not. In its annual update of the federal government’s long-term fiscal outlook, released last week, GAO warns: (more…)
Defense Secretary Chuck Hagel says the military is “challenging every past assumption, every past formula” in trying to reorganize itself for 21st century challenges in the face of a rapidly tightening budget.Uncertainties about sequestration and the Fiscal 2014 budget in…
The hope for "regular order" on a budget resolution stalled this week as unfortunate partisan bickering continued over whether lawmakers should proceed with a House and Senate conference committee. Republicans on Tuesday blocked an attempt by Senate Majority Leader Harry…