July 24, 2014

Blogs

Peter G. Peterson Foundation Fiscal Internship Program Summer of 2011

I’m thrilled to announce that The Concord Coalition is laying the groundwork for the 2011 session of The Peter G. Peterson Foundation Fiscal Internship Program. Piloted last year, this program awards stipend-supported internships focused on fiscal issues at different public policy institutions around Washington, DC. While each intern works on their own project with a scholar at a hosting institution, all students in the program come together once a week over the 10-week session for a seminar with a participating organization.

Social Security Cash Deficits are Here to Stay

A flurry of commentary greeted the unsurprising news last week that Social Security is paying out more than it is taking in. According to the Congressional Budget Office (CBO), the Social Security cash deficit for 2010 was $37 billion and will rise to $45 billion this year. The one-year payroll tax holiday enacted in December would actually leave the 2011 deficit much larger ($130 billion), but general revenues will be credited to Social Security to make up for the loss of payroll tax income.

With Medicare, You Get Substantially More Than You Pay For

Urban Institute scholar Gene Steuerle has run the numbers and found that for Medicare, retirees are getting a really good deal.

In a fascinating set of calculations, Steuerle and colleague Stephanie Rennane, looked at both Social Security and Medicare and estimated the levels of benefits relative to taxes (and premiums for Medicare) paid for many different levels of income and years of retirement.

It’s Official: U.S. Fiscal Policy is Unsustainable

With the ink barely dry on a $858 billion tax cut and emergency spending bill, lawmakers were hit with an official reminder last week that steps to rein in the nation’s growing debt cannot be postponed much longer.

According to the 2010 Financial Report of the U.S.

From a Budgetary Perspective, the Health Care Individual Mandate is Not Severable

The legal term severable normally gets little notice outside the world of constitutional law -- yet now it has become a big buzzword amongst health care analysts and federal budget wonks. The reason has to do with the numerous legal challenges to the Accountable Care Act's individual mandate to purchase health insurance. 

The Rough Common Ground

By now we've seen a number of proposals for fiscal sustainability from groups with very different perspectives.

Politically Popular Options Aren’t Enough for Serious Deficit Reduction

My least favorite argument in deficit reduction debates is that a particular option can’t be chosen because it is too unpopular. If that criterion is strictly applied, we might as well fold our tents and wait for the inevitable fiscal crisis because we’ll never eliminate trillion-dollar deficits with “popular” options.

A Sense of Urgency About the Nation's Fiscal Challenges

When a panel of fiscal experts took the stage at The Concord Coalition’s annual Economic Patriots Dinner last week, nobody was expecting a lot of happy talk about the federal debt. But the immediate sense of urgency may have caught some listeners off-guard, with one panelist -- Robert Rubin, former Treasury secretary -- warning about a possible “implosion” if large numbers of investors suddenly lost confidence in the United States.

Writing House Republican Budget Will Be No Tea Party

The problem with campaign rhetoric is that you’re stuck with it if you win.

The danger is that people might just believe you can really do all the wondrous things you promise and if you don’t deliver, they get angry. That, in part, helps to explain what happened to President Obama and congressional Democrats last week.

Now, it’s the Republicans’ turn to see if they can live up to their campaign rhetoric. On the fiscal front, they have set a very high bar for themselves.

Welcome to Washington

By the end of the week, the political landscape in Washington will have changed. We will have a new Congress and attention will quickly turn to the 2012 presidential contest.

Yet, regardless of who ends up in charge of Congress, or who begins making frequent trips to Iowa and New Hampshire, certain facts will remain the same.