WASHINGTON -- The Concord Coalition urges congressional leaders and President Trump to ensure that the proposed tax cuts they unveiled today would not increase the federal debt over the next decade. “Unfortunately, the new framework for revamping the tax code…
Federal spending can be divided into three main categories. The first category is mandatory spending, which is spending that operates on autopilot based on benefit formulas approved by lawmakers in years past. Mandatory spending makes up about two-thirds of the…
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…
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…