Iowans, Playing Role of Lawmakers, Slice U.S. Deficits

Submitted by swinn on Mon, 10/16/2017 - 22:06

While elected officials in Washington are considering various proposals that would increase the federal deficit, dozens of Iowa residents demonstrated in a recent budget exercise that they strongly favor moving in the opposite direction -- one that would substantially reduce projected government borrowing in the next few years.

The Crazy Debt Limit Should Go

Submitted by ahunt on Fri, 10/13/2017 - 12:05

The original purpose of the statutory debt limit was to remove the requirement that Congress authorize individual issuances of debt, rather than keep the government from acquiring too much debt. In a guest opinion piece in The Hill, Robert Bixby and James Carter write that today the debt limit is doing more harm than good. Read the full article here.

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Are You Up to the Budget Challenge?

Submitted by jgordon on Wed, 10/11/2017 - 16:45
Last month the U.S. national debt surpassed $20 trillion for the first time in history. It is clear that our nation’s fiscal path is unsustainable. Unfortunately, in Washington our elected officials are kicking the can down the road and avoiding the tradeoffs required to reduce projected deficits that will add to the debt. Our online budget exercise, The Federal Budget Challenge, will give you the chance to step up and try your hand at putting the nation on a better fiscal path.

‘Tax Expenditures’ Should Be Considered Large Spending Programs

Submitted by swinn on Tue, 10/10/2017 - 01:06
The federal tax code is riddled with provisions that either reduce or eliminate tax liabilities for businesses or individuals. These provisions, which include a variety of tax credits and deductions, are often called “tax expenditures.”

Expressions of Concern About the Deficit Are Not Always What They Seem

Submitted by jgordon on Thu, 10/05/2017 - 10:22
Almost every politician at the national level has expressed concern at one point or another about the federal government’s budget deficits. But one clear takeaway from the past 25 years is that these concerns are often situational and quickly abandoned as soon as they become politically inconvenient.

Concord Coalition Gives 2017 Economic Patriot Award to Governors Gina Raimondo and John Kasich

Submitted by swinn on Wed, 10/04/2017 - 13:51

WASHINGTON -- The Concord Coalition announced today that it is honoring two governors known for their success in meeting difficult fiscal challenges -- John R. Kasich of Ohio and Gina M. Raimondo of Rhode Island -- with the 2017 Paul E. Tsongas Economic Patriot Award.

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.