CBO Report Underscores Problems in Trump's Budget Plan

Submitted by swinn on Thu, 05/24/2018 - 16:07

WASHINGTON -- The nonpartisan Congressional Budget Office (CBO) today released its analysis of President Trump’s proposed budget for Fiscal 2019. Robert L. Bixby, executive director of The Concord Coalition, issued the following statement:

CBO’s analysis today of the president’s budget is another grim reminder of the nation’s increasingly dire fiscal outlook.

'A Fairly Ugly Picture': the Economic Risks of Current Fiscal Policy

Submitted by swinn on Mon, 05/21/2018 - 09:25

The American economy is at risk for a variety of reasons: high and rising federal debt, mounting interest and health costs, recent tax and spending decisions, and widespread complacency -- in Washington and around the country -- about the difficult fiscal challenges ahead.  

The Children Are Our Future

Submitted by swinn on Thu, 05/17/2018 - 15:42

“In only a few years we will be spending more servicing our past debt than we will investing in our future,” Marc Goldwein, senior vice president for the Committee for a Responsible Federal Budget (CRFB), said recently.

Trump's Prescription Drug Proposal: No Immediate Relief

Submitted by jgordon on Thu, 05/17/2018 - 15:27

This week the Trump administration released a compilation of ideas aimed at reducing prescription drug costs. Slowing the rise of drug costs is an important part of addressing the nation’s fiscal challenges because rising health care costs are the largest driver of long-term deficits.

About 10 percent of health care spending, roughly $360 billion in 2018, goes to prescription drugs. Drug spending is also the fastest-growing type of health care spending when projecting over the next five to ten years.

Rescissions Bill is a Smokescreen

Submitted by jgordon on Mon, 05/14/2018 - 11:46

With some fanfare, the Trump administration has sent Congress a rescission request that would cancel $15.3 billion of “budget authority” that was granted to executive branch agencies in past legislation.

Long Ignored, Pension Problems Are Mounting

Submitted by swinn on Tue, 05/08/2018 - 10:27

The Central States Pension Fund is warning the 400,000 retirees and workers it covers that it will be insolvent by the start of 2025 and is urging them to push Congress to pass legislation to protect their benefits.

Who Will Make the Serious Decisions?

Submitted by jgordon on Sun, 05/06/2018 - 21:22

During the most recent episode of “Facing the Future,” I took some time to focus on the state-level impacts of federal budget policy. The Concord Coalition recently partnered with the New Hampshire Fiscal Policy Institute to conduct a state/federal budget exercise with class members of “Leadership New Hampshire.”