Bipartisan Analysts Note Problems with Trump Budget

Submitted by swinn on Tue, 02/20/2018 - 08:41
During the second broadcast of "Facing the Future" budget experts expressed concern over the nation’s path after recent deficit-financed tax and spending legislation, and they saw a lack of fiscal discipline in the president’s Fiscal 2019 budget proposal.

North Carolina Students Wrestle with Federal Budget

Submitted by swinn on Tue, 02/20/2018 - 05:51

This is a guest blog post by Marjorie Dufek, the North Carolina coordinator for The Concord Coalition.

“A $20 trillion debt is insane, and our representatives carry a huge responsibility, with so many sides to each issue. With so many choices, it’s hard to see which is the right one.”

Trump Budget Is a Confession of Failure on Fiscal Challenges

Submitted by swinn on Mon, 02/12/2018 - 14:12

WASHINGTON -- President Trump’s proposed budget for Fiscal 2019 falls far short of what is needed to put the nation’s finances on a sustainable path, particularly in light of the deficit-financed spending and tax breaks that he and Congress approved in the last two months.

Robert L. Bixby, executive director of The Concord Coalition, issued the following statement today:

This budget is essentially a confession of failure on dealing with the nation's fiscal challenges.

Spending Deal Rejects Any Semblance of Fiscal Responsibility

Submitted by swinn on Wed, 02/07/2018 - 23:17

When 2017 began the nation had a new Congress, a new president and an old problem: debt on an unsustainable path. One year later, the new Congress and the new president have done nothing to address the old problem. In fact, they have made it worse.

The tax cut that was passed with great fanfare just before Christmas and celebrated as a “gift” to the American people will add at least one trillion dollars to the debt we are leaving to our children.

New Concord Radio Program Focuses on Fiscal Challenges

Submitted by swinn on Tue, 02/06/2018 - 11:17

Former Senator Bob Kerrey and Concord Coalition Executive Director Robert L. Bixby discussed the nation’s difficult fiscal challenges this week in the inaugural broadcast of Concord’s radio program “Facing the Future.”

Warnings on the Debt Limit

Submitted by swinn on Tue, 02/06/2018 - 09:47

In part because of new deficit-financed tax cuts, the Congressional Budget Office (CBO) has moved up its projection for when lawmakers must act on the federal debt limit to the first half of March.

That projection had previously been late March or early April.

If Congress fails to raise the $20.5 trillion debt limit in time, CBO reminded them in a report last week, it “would ultimately lead to delays of payments for government activities, a default on the government’s debt obligations, or both.”

Rising Interest Rates Will Increase Federal Budget Challenges

Submitted by swinn on Mon, 02/05/2018 - 16:31

Last week brought some good news for the economy and challenging news for the federal budget.

The good news was a solid jobs number -- a gain of 200,000 in January -- and an even more promising gain in average hourly wages to 2.9 percent from a year earlier. Combined with steady, if unspectacular, growth of 2.6 percent at an annual rate in the fourth quarter of 2017, the economy seems to be doing pretty well.

Deficit of Debt Discussion in State of the Union

Submitted by jgordon on Wed, 01/31/2018 - 10:08

It is deeply disappointing that in his first State of the Union Address President Trump failed to mention the state of the nation’s finances.

He could have told the American people that the national debt is at its highest level relative to the economy since the end of World War II and is on an unsustainable path.

He could have warned that health care and retirement income programs, primarily Medicare and Social Security, are steadily growing on autopilot faster than the revenues needed to pay for them as the population ages.