#Federal Budget

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…

I. Introduction Federal borrowing is once again near the statutory debt limit. At the end of last year, Secretary of the Treasury Timothy Geithner notified Congress that the $16.394 trillion limit had been reached and that his department would begin…

Over the past several weeks, there has been a flurry of activity on Capitol Hill as Congress considers legislation to reauthorize federal surface transportation programs. The previous authorization bill was enacted in 2005 and expired in 2009. Since then, Congress…

I. What’s a structural deficit? One possible response to the recent spike in federal budget deficits -- from $161 billion in 2007 to more than $1 trillion in each of the last three years is: Don’t worry. It’s all caused…

The AARP has launched a misleading and divisive ad campaign aimed at excluding Social Security and Medicare from any deficit-reduction proposals that might be developed by the new congressional “super committee.”This could have a dramatic negative impact on other government…

The tax proposals in President Obama’s latest deficit-reduction plan have led to partisan charges and counter-charges of “class warfare.” Journalist have focused heavily on his proposed “Buffett Rule,” which Obama says would ensure that people like Omaha billionaire Warren Buffett…

The trustees of Medicare and Social Security issued their annual reports last week, providing further evidence of the need for substantial reforms of the big entitlement programs that make up over a third of the federal budget.As in past years,…

As the President and Congress consider deficit reduction options and an increase in the debt limit, budget process proposals have recently become popular on Capitol Hill. (more…)