The first segment of the first presidential debate between Democrat Hillary Clinton and Republican Donald Trump was dedicated to achieving prosperity.
That provided an opportunity for the moderator to ask about -- and the candidates to talk about -- their respective plans for putting the nation’s projected debt on a sustainable path. It’s hard to see how prosperity can be achieved, or long maintained, with a debt that is projected to reach unsustainable levels.
Unfortunately, the subject was not discussed.
Even casual observers of today’s federal budget process can see it is badly broken.
Congress has repeatedly failed to pass budget resolutions. Failure to pass appropriations bills has become the norm, forcing lawmakers to rely on continuing resolutions, bills that simply extend prior spending regardless of shifting priorities. And efforts to negotiate legislation on a long-term fiscal plan are non-existent.
The penny plan to reduce spending by one cent on every dollar (one percent a year) has been bouncing around Washington for years but is now getting a higher profile with versions supported by the Senate Budget Committee Chairman Mike Enzi and the Republican nominee for president, Donald Trump.
Former U.S. Rep. Steven LaTourette, a long-time champion of bipartisan fiscal reform, died last week at age 62 after fighting pancreatic cancer.
A new report from the Congressional Budget Office reviews the serious problems facing the Pension Benefit Guaranty Corporation’s (PBGC) multiemployer program and analyzes proposed solutio
One of the best ways to understand -- and explain -- the country’s fiscal difficulties is to look at what we can expect to pay in interest on the rising national debt.
Drawing on recently released projections, the Congressional Budget Office (CBO) reiterated on Monday that federal spending on Social Security and health care is on track to increase signi
Last week the Department of Health and Human Services (HHS) announced its second major move towards “bundled payments” in Medicare.
In the midst of a “bleak” time for the nation’s long-term finances, Phil LaRue, The Concord Coalition’s director of government relations, recently noted three small signs of fiscal life in Washington.
The Congressional Budget Office (CBO) and the Social Security and Medicare trustees continue to point out the dangerous consequences of continued failure to put federal finances on a sustainable path. But some lawmakers and candidates are promising large new tax cuts or benefit increases without considering their costs, LaRue writes in a blog post.
The overall budget picture in Washington remains bleak as lawmakers have left town without making any meaningful progress on the appropriations process. They are now anticipating a September scramble to approve a Continuing Resolution (CR) to keep the government open after the new fiscal year begins Oct. 1. This means Congress, yet again, would be falling back on legislation that indiscriminately maintains the funding levels of the previous year, with little or no attention to the necessity of increased or decreased funding levels for important programs.