America’s federal debt held by the public is now larger than the entire U.S. economy — a level never reached in peacetime. And unless policymakers change direction, the debt is on track to climb far higher in the years ahead.…
Another Week, Another Deficit‑Increasing Reconciliation Bill Congress is preparing to vote this week on a new reconciliation package that would add $72 billion to the deficit for immigration enforcement. Lawmakers are also considering a reconciliation bill later this year…
With gas prices rising due to the Iran war choking off the flow of oil through the Strait of Hormuz, some lawmakers have revived calls for a federal gas tax holiday. The idea is simple: suspend the 18.4 cent per…
WASHINGTON, D.C. – May 14, 2026: Concord Action Executive Director Carolyn Bourdeaux issued the following statement regarding the U.S. Senate’s approval of a resolution (S. Res. 526) that will block senators’ paychecks during future federal government shutdowns: “The U.S. Senate…
Can Taxing on the Ultra‑Wealthy Fix the Debt Problem? The United States is borrowing more money faster than at almost any point in modern history. The national debt now exceeds the size of the entire U.S. economy, and interest costs…
For the eighth year in a row, the Department of Defense (DoD) failed to receive a clean audit — a requirement under the Chief Financial Officers (CFO) Act of 1990, which mandates annual independent audits to strengthen accountability and public…
Policy Features of Social Security That Drive Its Long‑Term Costs Social Security’s financial challenges are often framed as the inevitable result of an aging population. Demographics matter, but policy choices built into the design of the program also impact costs.…
WASHINGTON, D.C. – April 21, 2026: Concord Action Executive Director Carolyn Bourdeaux issued the following statement on a new budget resolution that U.S. Senate Republican leaders proposed today: “As Senate Republican leaders today unveiled a budget resolution specifically designed to…
Social Security’s financial challenges are well‑documented, but two recent policy changes have quietly made the program’s long‑term outlook even more difficult. While each was enacted with specific goals in mind, both either reduce revenue or increase costs at a time…
Many people think of Social Security as a system where you simply get back roughly the amount of money you put in during your working years. But Social Security was never designed that way. Instead, it operates primarily as a…
It’s easy to get excited about cutting waste, fraud, and abuse in government. After all, who doesn’t want a more efficient, effective government that spends our tax dollars wisely? But as much as trimming the fat sounds like a straightforward…
Tax season is here, and the IRS is preparing for roughly 164 million individual filings. Yet just as the workload peaks, the agency is facing major funding cuts that will weaken its ability to collect revenue, enforce tax laws, and…
