#Budget Process

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With lawmakers returning to Washington this week, Republicans face an extremely difficult task: Living up to the campaign rhetoric that helped them gain dozens of congressional seats in the Nov. 2 elections.Republicans campaigned on a pledge to move towards a…


In a marathon session, the president’s fiscal commission heard suggestions late last month from dozens of organizations and individuals on how to fix Social Security, improve the tax system and tackle other difficult challenges facing the country.The bipartisan commission is…


Before leaving town in December, Congress raised the statutory debt limit by $290 billion to $12.39 trillion. This was a short-term patch that will only provide enough borrowing authority to last until mid-February. Congress must, therefore, address the issue again…


I. Policy Proposals - Relative to What? Three times every year the Congressional Budget Office (CBO) produces a "baseline" of its budget outlook for the coming decade. As described by CBO, the baseline represents its "best judgment of how the…


The outlook for the federal budget is deceptively benign under the January 2006 baseline assumptions of the Congressional Budget Office (CBO). In its latest 10-year projections, CBO describes a budget that will reach balance in 2012 and stay balanced through…

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