Remembering Peter G. Peterson

Submitted by swinn on Tue, 03/20/2018 - 16:07

The Concord Coalition mourns the loss of its founding President Peter G. Peterson, who died today at the age of 91. Executive Director Robert L. Bixby issued the following statement:

Pete Peterson lived the American Dream. As a depression-era child of Greek immigrants, Pete rose from dishwasher at his parents’ diner in Kearney, Nebraska to become one of the nation’s top business leaders, a presidential cabinet member and a best-selling author.

Higher Prices, Administrative Costs Drive U.S. Health Care Inefficiency

Submitted by swinn on Tue, 03/20/2018 - 11:34

A new study in the Journal of the American Medical Association looks across the health care systems of the 10 highest-income countries around the globe to examine what makes our system uniquely inefficient -- spending almost twice as much per person, with worse population health outcomes on measures like life expectancy.

No Joke: More Deficit-Financed Tax Cuts Would Be a Big Mistake

Submitted by swinn on Mon, 03/19/2018 - 11:07

It probably isn’t a good sign when a political project is initially mistaken for a joke.

But President Trump and House Ways and Means Chairman Kevin Brady last week found themselves having to insist that they were serious about wanting a new round of tax cuts on top of the deficit-financed tax cuts that were approved only three months ago.

Budget Process Badly Needs an Upgrade

Submitted by swinn on Mon, 03/12/2018 - 11:32

A new joint congressional committee on the budget process held its first meeting Thursday amid bipartisan hopes that the panel would be able to suggest helpful reforms late this year.

Certainly there is room for improvement. Year after year the budget process has broken down, with Congress failing to make final spending decisions for each fiscal year until well after that year has started.

Understandable Skepticism on Trump’s Infrastructure Plan

Submitted by swinn on Fri, 03/09/2018 - 13:31

The Trump administration unveiled its long-awaited infrastructure plan with great fanfare last month. While the nation has many infrastructure needs, however, the plan seems to be generating little interest in Washington.

It’s not hard to see why. While the administration has promoted this as a $1.5 trillion program, it actually calls for only $200 billion in federal funding over 10 years. The remaining $1.3 trillion is supposed to come from state and local governments as well as the private sector as the result of federal incentives.

Young Professionals Tap Into Budget Exercise

Submitted by swinn on Mon, 03/05/2018 - 15:55

How should Washington start getting its fiscal house in order?

At “Budget on Tap,” members of the Concord Young Professionals Network (CYPN) in New Hampshire wrestled with that question while participating in a budget exercise called “Debt Busters.”

Congress Should Heed New Fed Chair’s Warnings on Fiscal Policy

Submitted by swinn on Mon, 03/05/2018 - 10:31

In his first appearances on Capitol Hill as the new Federal Reserve chairman, Jerome Powell strongly urged lawmakers to start putting the federal government on a better fiscal path.

Powell, who became Fed chairman in early February, told the House Financial Services Committee in response to lawmakers’ questions last week: “We really need to get on a sustainable fiscal path and the time to really be doing that is now.”