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The original purpose of creating a statutory debt limit in 1917 was not to prevent the government from running up too much debt, but to remove the requirement that Congress authorize individual issuances of debt. The intent was to help…


Some argue that cutting taxes will generate a level of economic growth sufficient to offset a substantial part, if not all, of the revenue lost. Under this theory, tax cuts do not cause deficits, but generate the growth necessary to…


During budget negotiations in the coming weeks, Congress should ensure that the Internal Revenue Service (IRS) has sufficient funding to effectively enforce the tax laws and improve taxpayer assistance and education services. This would allow the federal government to actually…


Many politicians and members of the public who are frustrated with the inability of Congress and the president to make responsible fiscal choices have proposed a seemingly simple solution:  Amend the Constitution to require a balanced budget. While the sentiment…


A common excuse for inaction on federal deficits is that relative to the size of the economy, they aren’t abnormally large and are projected to stay that way for a few more years. Furthermore, current projections may prove to be…


When The Concord Coalition was founded in 1992, the national debt was on a sharp upward trajectory. Yet just five years later, Democratic President Bill Clinton signed legislation passed by a Republican Congress that implemented the first balanced budget in…


This past Saturday marked 20 years since President Bill Clinton signed the Balanced Budget Act of 1997 (BBA). The act was the result of an agreement with the Republican-controlled Congress designed to balance the budget by 2002. (more…)


Not all deficits are created equal. In designing policy responses, it is important to distinguish between “cyclical” and “structural” deficits. Cyclical deficits are caused by a weak economy. Recessions drive down government revenue because many workers and businesses are no…


The Concord Coalition warned today that the latest attacks on the Congressional Budget Office (CBO) threaten to destroy its ability to provide policymakers and the public with nonpartisan, impartial analysis. After months of denigrating CBO, some members of Congress are…


Every year the trustees of Social Security and Medicare issue detailed reports on the financial status of these programs. While the trustees’ reports consistently warn that both programs face serious shortfalls, the urgency of this warning is often undercut by…


WASHINGTON -- The Concord Coalition is pleased that the House Budget Committee has voted to advance a budget resolution that aims to balance over 10 years, but is skeptical about the assumptions the committee makes to get there. However, establishing…


Social Security is the largest program in the federal budget, accounting for almost 24 cents out of every dollar spent by the government in 2016. The program consists of two main components: Old Age and Survivors Insurance, which provides benefits…

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