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GAO Urges Improvements in U.S. Fiscal Health

Apr 15, 2019
There’s a familiar ring to the latest report by the Government Accountability Office (GAO) on the nation’s fiscal health, and that is not a good sign. The new report reiterates GAO’s past warnings about the federal government’s budget problems and…
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Blogs

Debt Limit, in Need of Reform, to Return This Week

Feb 25, 2019
As federal agencies and millions of Americans struggle to recover from Washington’s partial shutdown over this year’s budget, we are now facing a potential crisis over the federal debt limit that could have an even greater negative impact. The debt…
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Blogs

Warnings on the Debt Limit

Feb 6, 2018
In part because of new deficit-financed tax cuts, the Congressional Budget Office (CBO) has moved up its projection for when lawmakers must act on the federal debt limit to the first half of March. That projection had previously been late…
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Blogs

Why the National Debt Just Hit $20 Trillion

Sep 13, 2017
On Sept. 8 the national debt increased by over $300 billion, surpassing $20 trillion for the first time in history -- a symbolic reminder of the federal government’s flawed fiscal policy. But how exactly did we get to this point,…
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Blogs

The Debt Limit is More Trouble Than It’s Worth

Sep 6, 2017
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…
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Press Releases

CBO Report Shows the Costs of Procrastination

Jun 29, 2017
WASHINGTON -- The Concord Coalition said today that updated projections by the Congressional Budget Office (CBO) underscore the need for President Trump and Congress to turn their attention to the worsening budget outlook. “The CBO’s latest projections, while not surprising,…
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Blogs

Time to Reform the Debt Limit

Jun 27, 2017
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,…
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Blogs

Mnuchin: Debt Limit Deadline May Be Sooner Than First Expected

May 31, 2017
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…
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Blogs

Debt Limit’s Return Calls For Congressional Action

Mar 16, 2017
Today the federal debt limit will be reset at a level equal to the outstanding federal debt (roughly $19.8 trillion). The debt limit, which caps the government’s total borrowing authority, has been suspended since November of 2015. Because the federal…
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