The Congressional Budget Office (CBO) provides a critical service for policymakers and the public: projecting the budgetary and economic impacts of proposed legislation. Since its inception in 1974, CBO has established an unparalleled track record for objectivity and analytical rigor.…
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…
