Tax season is here, and the IRS is preparing for roughly 164 million individual filings. Yet just as the workload peaks, the agency is facing major funding cuts that will weaken its ability to collect revenue, enforce tax laws, and…
Concord Action welcomes a variety of viewpoints on issues related to the long-term fiscal health of the nation. The following guest essay is written by Kurt Couchman, who is senior fellow in fiscal policy at Americans for Prosperity and the…
America’s $38 trillion national debt is no longer a distant concern—it’s a clear and present danger. Interest payments alone now eclipse what we spend on national defense, devouring nearly 20% of every tax dollar. This debt load is choking our…
The United States is entering a period of rising global tension at the same time our fiscal capacity is shrinking. Military operations carry immediate costs, long-term obligations, and significant tradeoffs across the federal budget. Troops that are sent into combat…
The Supreme Court’s decision to strike down tariffs imposed under the International Emergency Economic Powers Act (IEEPA) is more than a legal setback for the administration. It is a hit to the nation’s fiscal outlook, one that directly affects the…
Every year, the federal government is supposed to pass a budget before the new fiscal year begins on October 1. A fiscal year is simply the government’s 12‑month accounting period—running from October 1 to September 30—so Congress must approve funding…
The Congressional Budget Office’s (CBO) Budget and Economic Outlook: 2026 to 2036 delivers a stark message: federal budget deficits are projected to keep rising, pushing the national debt to unprecedented levels. Even with steady economic growth, the government is expected…
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 Aaron Till, senior policy analyst with the Bipartisan Policy Center. The U.S. publicly…
The Rising Cost of Interest: Why America's Debt is Becoming More Dangerous This year, financial markets have twice delivered the same unmistakable message: policy shocks can drive up the government’s borrowing costs in an instant. During “Liberation Day” in April…
The French philosopher Auguste Comte famously said, “Demography is destiny.” The United States is beginning to feel that truth as an aging population puts increasing pressure on Social Security and Medicare. Each year, the Congressional Budget Office releases a 30‑year…
Affordability has become one of the defining concerns for American families. Over the past few years, people have been squeezed by two major forces: high inflation and rising interest rates. Inflation surged to 9% in 2022 and was above 5%…
To understand where we need to go, it helps to look at where we have been. In just a quarter century, the federal budget has swung from surplus to deep deficits, with little sign of reversal ahead. Two charts illustrate…
