Trust Fund Accounting Obscures Fiscal Problems of Social Security and Medicare

Submitted by jgordon on Thu, 07/20/2017 - 14:10
Every year the trustees of Social Security and Medicare issue detailed reports on the financial status of these programs. While the trustees’ reports consistently warn that both programs face serious shortfalls, the urgency of this warning is often undercut by undue attention to the years in which the Social Security trust funds and the Medicare Hospital Insurance (HI) trust fund are projected to become insolvent.

Concord Coalition Expresses Concern Over House Budget Assumptions

Submitted by swinn on Thu, 07/20/2017 - 13:45

WASHINGTON -- The Concord Coalition is pleased that the House Budget Committee has voted to advance a budget resolution that aims to balance over 10 years, but is skeptical about the assumptions the committee makes to get there. However, establishing the goal of deficit- neutral tax reform is an important step and will hopefully act to promote real reforms that can increase economic growth while acting as a guardrail against large deficit-increasing tax cuts.

Doing Nothing is Not a Plan to Fix Social Security

Submitted by jgordon on Wed, 07/19/2017 - 13:31
Social Security is the largest program in the federal budget, accounting for almost 24 cents out of every dollar spent by the government in 2016. The program consists of two main components: Old Age and Survivors Insurance, which provides benefits to 49 million retired individuals and their dependents, and their survivors; and Disability Insurance, which pays benefits to 11 million workers with disabilities and their dependents.

Making Health Care Programs Sustainable Depends on Controlling Costs

Submitted by swinn on Tue, 07/18/2017 - 12:38
Health care programs are the largest and fastest growing in the federal budget. These programs include Medicare (providing health insurance for older Americans), Medicaid (providing health insurance for lower-income Americans), the Children’s Health Insurance Program, and subsidies for individuals to purchase private health insurance under the Affordable Care Act. Currently they comprise almost 30 cents out of every dollar spent by the federal government.

CBO Analysis Raises Doubts on White House Budget

Submitted by swinn on Mon, 07/17/2017 - 11:36
The Congressional Budget Office (CBO) last week published its official analysis of the president’s budget. When initially released, that budget purported to, among other things: balance within ten years, reduce the national debt relative to the size of the economy, and unleash real economic growth rates of 3 percent. The new CBO analysis casts doubt on these assertions.

Trustees Show Need for Social Security, Medicare Reforms

Submitted by swinn on Thu, 07/13/2017 - 16:17

WASHINGTON -- This year’s reports from the trustees of Social Security and Medicare highlight the need for substantial reforms to both programs that can put them on sustainable paths while protecting other government priorities in the coming years, according to The Concord Coalition.

Driving up the Cost of Social Security, Medicaid

Submitted by chagaman on Thu, 07/13/2017 - 15:42

Central to the nation’s long-term fiscal challenge is a changing demographic landscape that President Trump’s proposed budget fails to address, according to a guest column by Robert L. Bixby, executive director of The Concord Coalition, and Harold Janeway, a former state senator who serves on Concord’s New Hampshire Advisory Board. This article first appeared in The Nashua Telegraph (New Hampshire) on July 9, 2017. 


25 Years, 25 Lessons on Fiscal Reform

Submitted by jgordon on Thu, 07/06/2017 - 08:19

The Concord Coalition is celebrating its 25th anniversary this year. From the beginning, we have been more than “deficit hawks” with an eye only for balanced budgets. Rather, our focus has always been - and remains - achieving federal budget policies that are sustainable over the long term. We believe that this is an economic imperative and a matter of generational responsibility.