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Federal Reserve Chairman Ben Bernanke is urging Congress to focus on achieving long-run fiscal sustainability in the federal budget while avoiding action that could “impede the ongoing recovery.”These two objectives are compatible, Bernanke assured the Joint Economic Committee in his…

Senate Budget Committee Chairman Kent Conrad (D-N.D.) and Ranking Member Jeff Sessions (R-Al.) both have expressed support for biennial budgeting -- a proposal to convert the budget process to a two-year cycle. The comments were made at a hearing last…

Iowa residents were urged last week to help focus the 2012 election on fixing the federal government’s long-term budget problems. Two prominent experts on the federal budget emphasized that point to college students, business and civic leaders, journalists and others…

President Obama continues to campaign for a package of tax cuts and additional spending that he says will provide the U.S. economy with needed short-term support. At the same time, the congressional super committee is looking for ways to cut…

This afternoon the House is scheduled to consider a continuing resolution (CR) to fund the government through Nov. 18 at the $1.043 trillion level included in the debt limit law. The government is currently operating under a short-term continuing resolution…

Former CBO directors Rudolph Penner and Alice Rivlin were among the budget experts who testified in front of the House Budget Committee last week about the country’s broken budget process and offered their suggestions.Penner emphasized that Congress should get serious…

Members of the new congressional committee on deficit reduction are showing considerable interest in the idea of revamping the tax code. At a public hearing last Thursday, however, lawmakers on the panel expressed differing views over what changes should be…

A government shutdown was avoided last night when Senate leaders reached agreement on a continuing resolution (CR) to fund the government through Nov. 18 at the $1.043 trillion level included in the debt limit law.Due to a dispute over offsets…