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Using authority provided by a new House rule, House Budget Committee Chairman Paul Ryan (R-WI) announced last week that this fiscal year's allocation to the House Appropriations Committee would be $1.055 trillion, a cut of $35 billion below the FY…

The Congressional Budget Office created a stir when it reported last week that Social Security paid out $37 billion more than it took in last year. The CBO projected that Social Security would run perpetual cash deficits from this point…

WASHINGTON -- Citizen groups originally convened by The Concord Coalition today called on Congress and President Obama to produce “a bold, comprehensive plan to avoid an explosion of federal debt that could devastate the economy (more…)

Senators Jeanne Shaheen (D-NH) and Johnny Isakson (R-GA) have introduced legislation to convert the annual budget and appropriations process into a two-year cycle. Under the Biennial Budget Appropriations Act (S. 211), the first year of the process would be dedicated…

President Obama’s State of the Union address raised questions about his willingness to take the lead in focusing public attention on the heavy sacrifices that will be required to rein in future deficits.While he talked about the importance of fiscal…

The Congressional Budget Office has released its annual Budget and Economic Outlook, filled with statistics that underscore the need for both Democrats and Republicans to offer more realistic proposals to put the country on a responsible fiscal path.The official projections…

Lawmakers in both parties promised to work together to revamp the tax code as the House Ways and Means Committee last week held a hearing on the subject. Several recent panels, including the President’s fiscal commission, have suggested that tax…

Members of the Republican Study Committee and the Senate Steering Committee have proposed legislation to cut $2.5 trillion in spending over 10 years -- cuts that go beyond those proposed by House Republican leaders or President Obama.Non-security discretionary spending (which…