Business Economists Worry About Rising Deficits

Submitted by swinn on Tue, 08/28/2018 - 09:59

Large majorities of business economists said in a recent survey that current U.S. fiscal policy is overstimulating the economy and should be aimed at reducing the federal deficit rather than increasing it.

The National Association for Business Economics said 81 percent of the survey respondents think fiscal policy “should reduce the federal deficit’s share of GDP when compared with the Congressional Budget Office’s (CBO’s) baseline.”

Remembering John McCain

Submitted by swinn on Sun, 08/26/2018 - 10:15

Sen. John McCain was a war hero and dedicated public servant who put country over party and who recognized the moral imperative to protect younger Americans and future generations from excessive government debt.

The Concord Coalition mourns his passing, and we offer our condolences to his family, friends, congressional colleagues and the people of Arizona, the state he represented so well for so many years.

Nine Congressional Candidate Interviews Available So Far on Budget Issues as ‘Facing the Future’ Series Continues

Submitted by swinn on Wed, 08/22/2018 - 12:25

With less than three weeks left until New Hampshire’s 2018 primary election, all but a few “Facing the Future” congressional candidate interviews have been completed and are available on The Concord Coalition’s website.

Leonard Boswell, a Champion for Future Generations

Submitted by swinn on Mon, 08/20/2018 - 09:32

Former Iowa Congressman Leonard Boswell died last week at the age of 84. He was a devoted husband, father and grandfather, a Vietnam War hero, and a champion of fiscal responsibility. He was also one of the most genuinely decent and honorable public servants one could ever hope to meet. We extend our heartfelt condolences to his family and the people of Iowa, who have lost a great man.

Concerns Over Tax Law’s Cost, Complexity

Submitted by swinn on Fri, 08/17/2018 - 09:24

Last year’s tax legislation fell short of some supporters’ key stated goals, notably to greatly simplify the tax code and strengthen the federal government’s financial position.

Two new analyses from the International Monetary Fund (IMF)  and the Peter G. Peterson Foundation bring these shortcomings into sharp focus. Both should be of interest to elected officials, political candidates and voters.

CBO Projects Dropping Economic Growth Rates

Submitted by swinn on Tue, 08/14/2018 - 09:29

In an update to its 10-year economic outlook, The Congressional Budget Office (CBO) projects that real GDP will grow by 3.1 percent this year, 2.4 percent next year and considerably less in subsequent years.

Fiscal Picture Likely Worse

Submitted by jgordon on Mon, 08/13/2018 - 10:08

The federal budget is currently on an unsustainable path, and that path has been made worse by recent congressional action. Yet a new Congressional Budget Office (CBO) analysis shows that its standard projections, which assume current laws remain in place, likely understate the projected path of debt.

If Congress continues certain recent policies, the path gets much worse, bringing key economic outcomes down with it.

Tariff Revenue Won’t ‘Pay Down’ the Debt

Submitted by swinn on Wed, 08/08/2018 - 15:52

President Trump’s claim this week that his tariffs will enable the government to start "paying down" large amounts of the federal debt is wrong for a very simple reason: It is impossible to reduce debt while you are still adding to it.

Trump tweeted Sunday that “Because of Tariffs we will be able to start paying down large amounts of the $21 Trillion in debt that has been accumulated, much by the Obama Administration, while at the same time reducing taxes for our people.”

Plan Would Help Fill Gap in Highway Funding

Submitted by swinn on Fri, 08/03/2018 - 13:08

By Rob Ryan

Despite much discussion in Washington about the need for more substantial investment in infrastructure, nothing much has been done.

House Transportation and Infrastructure Chairman Bill Shuster (R-Pa.), however, recently unveiled a proposal that would help address -- for a decade, at least -- the chronic shortfall in the federal highway and transit trust fund.

Demand Action on Social Security

Submitted by swinn on Wed, 08/01/2018 - 12:26

This guest column by Robert L. Bixby, executive director of The Concord Coalition, was published in The Telegraph (New Hampshire).

Time is running out for timely action to ensure that Social Security is secure.

Think back to 2002. It was only 16 years ago. For many of us, that doesn’t seem so long ago.