Marking 25 Years of Fighting for Fiscal Reform

Submitted by jgordon on Tue, 10/03/2017 - 09:45

Concord Coalition supporters gathered to celebrate 25 years of fiscal responsibility education and advocacy at the historical Colonial Inn on Sept. 25 in Concord, Mass. At a lunch four speakers discussed Concord’s achievements, lessons learned over the past 25 years, and the fiscal policy challenges facing our nation.

On Taxes, Senators Should Heed Their Own Prior Debt Warnings

Submitted by swinn on Mon, 10/02/2017 - 11:11

The Senate Budget Committee has embraced deficit-financed tax cuts in its proposed budget resolution, showing an unwarranted disregard for the growing national debt that has -- in the past -- drawn so many expressions of alarm from committee members and other lawmakers.

Tax Plan Should Not Increase Debt

Submitted by swinn on Wed, 09/27/2017 - 14:49

WASHINGTON -- The Concord Coalition urges congressional leaders and President Trump to ensure that the proposed tax cuts they unveiled today would not increase the federal debt over the next decade.

The Debt Limit Isn't Working, a More Effective Mechanism to Control Debt Is Needed

Submitted by swinn on Tue, 09/26/2017 - 15:13

With the national debt surging beyond the $20 trillion mark and Congress considering legislation that would produce even higher deficits than are already projected for the coming decade, the federal debt limit is receiving some much-needed scrutiny.

President Trump has suggested doing away with the debt limit, and some lawmakers recently introduced legislation to do so.

Clearly, the federal debt limit isn’t living up to its name, and we should stop pretending that it is.

The Broken Budget Process Should Be Refocused on Long-Term Planning

Submitted by ahunt on Thu, 09/21/2017 - 10:42
The official federal budget process was established in 1974 by the Congressional Budget and Impoundment Control Act. In practice, the process prescribed by the law has never been followed to the letter, and in recent years it’s been abandoned almost entirely. The broken budget process has resulted in policymakers applying quick fixes to avert artificial crises such as government shutdowns instead of making strategic long-term decisions.

Voting on Health Care Bill Without CBO Score is Highly Problematic

Submitted by jgordon on Mon, 09/18/2017 - 20:08

Republican lawmakers are trying to rapidly pass a bill to repeal the Affordable Care Act (ACA) through the Senate prior to the end of the fiscal year (Sept. 30) so that it can still enjoy budget reconciliation protections and avoid a filibuster.

The “Graham-Cassidy” bill would convert the current health care subsidies from the federal government for the ACA and the ACA’s Medicaid expansion into block grants and would require states to create rules for distributing the subsidies.

Mandatory Spending Growth Means the Budget Debate is Increasingly Focused on a Shrinking Part of the Budget

Submitted by jgordon on Mon, 09/18/2017 - 14:30
Federal spending can be divided into three main categories. The first category is mandatory spending, which is spending that operates on autopilot based on benefit formulas approved by lawmakers in years past. Mandatory spending makes up about two-thirds of the budget and includes major entitlement programs such as Social Security and Medicare.

Why the National Debt Just Hit $20 Trillion

Submitted by jgordon on Wed, 09/13/2017 - 11:55
On Sept. 8 the national debt increased by over $300 billion, surpassing $20 trillion for the first time in history -- a symbolic reminder of the federal government’s flawed fiscal policy. But how exactly did we get to this point, and why was there such a sharp increase in a single day?

The Debt Limit is More Trouble Than It’s Worth

Submitted by jgordon on Wed, 09/06/2017 - 10:35
The original purpose of creating a statutory debt limit in 1917 was not to prevent the government from running up too much debt, but to remove the requirement that Congress authorize individual issuances of debt. The intent was to help ensure that sufficient and timely credit would be available to finance World War I. One hundred years later, things are very different. The main use of the debt limit now is to prevent the government from paying its bills on time, putting the nation’s creditworthiness at risk and threatening a global financial crisis.