Demographics Drive Our Long-Term Fiscal Challenges

Submitted by jgordon on Wed, 07/05/2017 - 23:20
The heart of the nation’s long-term fiscal challenge is a changing demographic landscape. The ongoing retirement of the baby boom generation will continue to slow the growth rate of the workforce, which will slow potential economic growth (GDP) compared to earlier decades. According to CBO, the average annual growth rate of potential labor was 1.4 percent from 1950 to 2016. Due mostly to the baby boomer retirements, CBO projects that rate will fall to just 0.5 percent by 2027.

Fiscal Policy Remains Unsustainable

Submitted by jgordon on Wed, 07/05/2017 - 14:34
While much has changed in the past 25 years, this fundamental reality has not: Federal budget policy remains on an unsustainable track, driven by structural forces that increase federal spending faster than revenues.

CBO Report Shows the Costs of Procrastination

Submitted by jgordon on Thu, 06/29/2017 - 15:48

WASHINGTON -- The Concord Coalition said today that updated projections by the Congressional Budget Office (CBO) underscore the need for President Trump and Congress to turn their attention to the worsening budget outlook.

The Current Health Care Policy Approach Has Fiscal Risks

Submitted by jgordon on Tue, 06/27/2017 - 11:07

With the release of the Senate health care proposal and its analysis by the Congressional Budget Office (CBO), it’s clear that the House and Senate are taking the same approach on health care policy.

According to CBO, the Senate bill would decrease spending by $1,022 billion and decrease revenue by $701 billion, leading to a total deficit reduction of $321 billion over the 10-year budget window from 2017 to 2026. The House bill was scored as reducing the deficit by $119 billion.

Time to Reform the Debt Limit

Submitted by jgordon on Tue, 06/27/2017 - 10:25

Congress has a curious way of doing financial business: It agrees to spend money and then periodically threatens not to pay the resulting bills.

It is a bizarre and potentially dangerous political ritual, unique among national governments around the world, that involves the statutory federal debt limit.

Yet another crisis over raising that limit is looming, and it comes at a time when elected officials in Washington seem to have trouble meeting even their most basic budgetary responsibilities.

Former Social Security and Medicare Public Trustees Launch Oversight Initiative

Submitted by jgordon on Tue, 06/27/2017 - 09:47

A new report by Charles Blahous and Robert Reischauer, who up until last year were the public trustees of Social Security and Medicare, highlights the financial challenges facing both programs as part of a new initiative at the Bipartisan Policy Center (BPC).

david oman portrait

David Oman is the Senior Strategic Consultant for The Concord Coalition. For four decades, David has held leadership roles in business, government, and politics. His experience includes stints in broadcast journalism, as Chief of Staff to two Governors of Iowa, and as a leader in Iowa state politics. He has a well-earned reputation for working across party lines to accomplish goals and build bipartisan alliances statewide on numerous commissions and councils. David continues to maintain a heavy degree of involvement in Iowa state politics, national politics and public policy deliberations.

David is a native of Cedar Falls, Iowa and a graduate of the University of Northern Iowa. He is a member of the Des Moines Rotary Club.

 

Picture of Ashley Hunt

Ashley Hunt is the Social Media Consultant for The Concord Coalition. In this role, Ms. Hunt works to help The Concord Coalition advocate for fiscally responsible federal budget policies and raising awareness of the impact these policies will have on future generations.

Ms. Hunt works at a bipartisan public affairs, public relations, international counsel, and government affairs firm based out of Des Moines, Iowa, where she specialized in public affairs, grassroots engagement, event management, and issue advocacy. Ms. Hunt works with clients from a wide range of industries, including health care, energy, and financial and economic organizations to amplify client messaging through earned media, events, and volunteer engagement.

Ms. Hunt has extensive experience in planning and executing large and small scale events, including Senator Joni Ernst (R-IA)’s annual Roast and Ride fundraiser, former Iowa Governor Terry Branstad’s annual birthday fundraiser, and the Global Insurance Symposium.

Ms. Hunt is graduated from Iowa State University in 2014 with a degree in speech communications and event management.

As Fiscal Pressures Mount, Concord Coalition Forum in Washington Will Look at Key Lessons for the Future

Submitted by jgordon on Thu, 06/22/2017 - 16:16

WASHINGTON -- It’s late June and Washington has no budget, no agreement on health care reform, no sign of tax reform, growing worries about a government shutdown this fall and a looming crisis over the federal debt limit.

How did we get to this point and what is the way forward?

A Concord Coalition forum June 29 in Washington will address these issues, taking a look at the fiscal lessons that have been learned over the last 25 years and how those lessons apply to the major fiscal policy challenges of the next quarter-century.