The president’s heavy reliance on tax increases to reduce future deficits, even while increasing spending, obviously makes his budget “dead on arrival” with House Republicans. On the other hand, a deficit reduction plan based solely on spending cuts, as Republicans…
The Concord Coalition said today that President Biden’s goal of reducing future federal budget deficits by $2.8 trillion over 10 years is a step in the right direction, but falls far short of what is needed to prevent the nation’s debt from continuing its alarming rate of increase. Moreover, the budget is based on a set of optimistic economic assumptions and unlikely policy outcomes that if not achieved would result in far less deficit reduction than projected by the administration.
Treasury may be able to keep sending out retirees' benefit checks if borrowing cap isn't raised in time. It won't be easy It’s a time-worn argument for raising the debt limit: Without increased borrowing authority, Social Security checks would stop…
WASHINGTON, DC - Today, the nonpartisan Congressional Budget Office (CBO) released its latest projections for the federal budget and the U.S. economy, providing yet another reminder of the unsustainable trajectory of the federal budget. According to The Concord Coalition, CBO’s…
