Senate Takes Misguided Approach with Deficit-Financed Tax Cuts

Submitted by jgordon on Fri, 10/20/2017 - 12:23

The Concord Coalition said today that the Senate, in adopting a Fiscal Year 2018 budget resolution calling for deficit-financed tax cuts of up to $1.5 trillion over 10 years, has abandoned fiscal responsibility and embraced deepening debt as a misguided economic growth strategy.

Bipartisan Health Care Fix Would Move the Ball Forward

Submitted by jgordon on Thu, 10/19/2017 - 12:58

The bipartisan effort led by Senators Lamar Alexander and Patty Murray represents an important, fiscally responsible step towards getting the country past an immediate crisis in insurance markets so that we can move on to debate necessary longer-term health care system reforms.

PAYGO is an Important Standard

Submitted by jgordon on Wed, 10/18/2017 - 09:47
Most people agree that current fiscal policies are unsustainable. It is thus a matter of common sense to require those who want to enact new tax cuts or entitlement expansions -- both of which would enlarge the structural deficit -- to put forward spending cuts or tax increases to pay for them. This is the simple concept behind PAYGO (shorthand for Pay-As-You-Go).

25 Years of Fiscal Policy Education, and a Look at Future Challenges

Submitted by swinn on Tue, 10/17/2017 - 11:59

At a public forum last week in New Hampshire, former U.S. senators Judd Gregg and Kent Conrad warned of difficult federal budget decisions ahead and urged elected officials to pursue more sustainable fiscal policy solutions.

Gregg, a Republican from New Hampshire, and Conrad, a Democrat from North Dakota, participated in a public forum at the New Hampshire Institute of Politics at Saint Anselm College on Oct. 12 in Manchester. The event was one of several this year marking The Concord Coalition’s 25th anniversary.

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.


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.