As more baby boomers retire and the over-65 population rises from 12 percent of Americans in 2010 to 25 percent in 2030, paying for their care will become increasingly difficult, the Congressional Budget Office (CBO) warns in a new report.The…
House and Senate plans for appropriations bills for 2014 are currently about $91 billion apart, setting the stage for a possible government shutdown in October.Appropriations subcommittees in the House and Senate have released “302(b) suballocations” that break down levels for…
Some in Washington are ready to declare victory over the deficit problem, and on Monday Standard & Poor’s said it would revise its credit rating outlook for the government from negative to stable. But the deficit problem is actually still…
Although the federal deficit is now dropping, members of Congress should heed Federal Reserve Chairman Ben Bernanke’s recent warnings about the need to focus more on the country’s long-term fiscal imbalances.“To promote economic growth and stability in the longer term,…