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Last week President Obama nominated Jacob “Jack” Lew to be the new head of the Office of Management and Budget (OMB), replacing Peter Orszag, who is stepping down at the end of July. OMB is primarily responsible for developing the…

At a time of considerable uncertainty and risk, the United States faces two distinct problems that require different remedies. The economy remains shaky in the near-term, and fiscal policy remains unsustainable in the long-term. As Concord Executive Director Bob Bixby…

Below are several developments we have been following since the last edition of the Washington Budget Report (sign up here) was published. (more…)

We can’t keep this up. That’s the central message in a new report from the Congressional Budget Office that looks out over the next few decades and explains why the federal government is on an unsustainable course.The CBO report presents…

As Congress returns from its July 4th recess, below are some of the budget stories we have been following since the last edition of the Washington Budget Report (sign up here) was published. (more…)

Imagine if Congress held a vote in the next few months on a bill that cut nearly $3.7 trillion in income taxes, added $350 billion worth of loopholes and deductions to the tax code, and increased Medicare spending by $236…

At a time when lawmakers are under public pressure to show greater fiscal responsibility, Congress has chosen to ignore its fundamental duty to pass a budget resolution for the coming year.Instead, some on Capitol Hill are talking about approving a…

House Majority Leader Steny Hoyer stirred considerable discussion in Washington with a thoughtful speech last week emphasizing the need to develop a credible long-term deficit reduction plan even as the economic recovery continued.Such a plan, he said, could provide better…