Reviewing the dismal state of federal finances last week, two current members of Congress and two former lawmakers emphasized both the urgency of reform and some of the obstacles that must be overcome.They offered their thoughts during a panel discussion…
Fulfilling pessimistic expectations, Congress has decided to leave many of this year’s big fiscal decisions to be made in a few short weeks after the November elections.Both the House and Senate have adjourned until after the elections. At that point…
Last Friday the Office of Management and Budget (OMB) released a report detailing the effects of automatic spending cuts scheduled to begin taking effect in January. The cuts are required by the 2011 Budget Control Act (BCA) because the Joint…
Former Defense Secretary Robert Gates and former Chairman of the Joint Chiefs of Staff Michael Mullen said Monday that Washington’s fiscal ailments pose a serious threat to national security, but they warned that sharp automatic spending cuts scheduled to start…