Concord Action welcomes a variety of viewpoints on issues related to the long-term fiscal health of the nation. The following is a guest essay written by Concord Fiscal Lookout Owen Paepke who is the author of The Evolution of Progress…
How Social Security Contributes to Debt and Deficits? The Social Security Trustees released their annual report on June 9, offering the clearest picture yet of the program’s financial outlook—and its growing impact on the federal budget. Social Security remains the…
America’s federal debt held by the public is now larger than the entire U.S. economy — a level never reached in peacetime. And unless policymakers change direction, the debt is on track to climb far higher in the years ahead.…
Another Week, Another Deficit‑Increasing Reconciliation Bill Congress is preparing to vote this week on a new reconciliation package that would add $72 billion to the deficit for immigration enforcement. Lawmakers are also considering a reconciliation bill later this year…
With gas prices rising due to the Iran war choking off the flow of oil through the Strait of Hormuz, some lawmakers have revived calls for a federal gas tax holiday. The idea is simple: suspend the 18.4 cent per…
Can Taxing on the Ultra‑Wealthy Fix the Debt Problem? The United States is borrowing more money faster than at almost any point in modern history. The national debt now exceeds the size of the entire U.S. economy, and interest costs…
For the eighth year in a row, the Department of Defense (DoD) failed to receive a clean audit — a requirement under the Chief Financial Officers (CFO) Act of 1990, which mandates annual independent audits to strengthen accountability and public…
Policy Features of Social Security That Drive Its Long‑Term Costs Social Security’s financial challenges are often framed as the inevitable result of an aging population. Demographics matter, but policy choices built into the design of the program also impact costs.…
Social Security’s financial challenges are well‑documented, but two recent policy changes have quietly made the program’s long‑term outlook even more difficult. While each was enacted with specific goals in mind, both either reduce revenue or increase costs at a time…
Many people think of Social Security as a system where you simply get back roughly the amount of money you put in during your working years. But Social Security was never designed that way. Instead, it operates primarily as a…
It’s easy to get excited about cutting waste, fraud, and abuse in government. After all, who doesn’t want a more efficient, effective government that spends our tax dollars wisely? But as much as trimming the fat sounds like a straightforward…
