Blogs

The Congressional Budget Office (CBO) has released a useful report presenting more than 100 spending and revenue options for deficit reduction.Of the 38 options discussed for discretionary spending, about a third involve defense. With mandatory programs, the CBO said, policymakers…

Six senators and the co-chairs of President Obama’s fiscal commission have put a spotlight on the country's big fiscal challenges – a welcome contrast to the tussles in Congress over domestic spending programs that make up only a slice of…

Congressional Budget Office Director Douglas Elmendorf laid out four simple observations about the federal budget in a recent presentation to the National Association for Business Economics.First, on the government’s current path the gap between spending and revenues would persist even…

A new report from the Government Accountability Office (GAO) identifies billions of dollars in potential savings that could come from eliminating federal programs with duplicative goals. GAO recommends that Congress consider 81 separate areas -- 34 where duplication exists and…

The Government Accountability Office (GAO) warns in a new report that delay in raising the debt limit could negatively impact markets and borrowing costs.The debt limit does not constrain the ability of the government to run deficits, but its ability…

The administration recently issued the new Economic Report of the President that unfortunately avoids getting into the “tough choices” facing the nation on tax and spending policy.Another disappointment: While focusing on a “Foundations of Growth” theme, it leaves out an…

Even if the new Economic Report of the President had actually discussed better ways to raise revenue or to make Social Security and Medicare programs more sustainable, it would have judiciously avoided using the controversial words “taxes” or “entitlements.” (more…)

The Government Accountability Office (GAO) reported at least some improvements over the last two years in areas of the federal government that it has designated as “high risk” for waste, fraud, mismanagement and abuse.But in a new report, the GAO…