While much has changed in the past 25 years, this fundamental reality has not: Federal budget policy remains on an unsustainable track, driven by structural forces that increase federal spending faster than revenues. (more…)
Congress has a curious way of doing financial business: It agrees to spend money and then periodically threatens not to pay the resulting bills. It is a bizarre and potentially dangerous political ritual, unique among national governments around the world,…
The federal government’s financial problems are so large that all parts of the budget -- from entitlements to defense spending to tax breaks -- should be considered “on the table” for fiscal reform discussions. Comprehensive, lasting reform will require substantial…
Treasury Secretary Steve Mnuchin warned lawmakers recently that the deadline to raise or suspend the federal debt limit may be sooner than previously thought. The change is due to lower-than-expected tax receipts in April, which is typically the best month of the…
