Introduction In part one of this defense primer, readers learned that the defense budget is a significant portion of the federal budget (about 15% in 2019), approximately 96% of which is Department of Defense spending (the Pentagon’s…
Most Americans know that the defense budget constitutes a substantial portion of federal spending, but there remains plenty of confusion as to just how much. While a quick search can answer that for you (spoiler alert: $714 billion in…
Introduction As debate in Washington continues over how (or whether) to pay for the latest infrastructure plan, someone will inevitably claim it will pay for itself. (1) Such optimism reflects the belief that government spending creates jobs and grows…
Key Takeaways Several times each year, the Congressional Budget Office publishes a baseline – a policy-neutral snapshot of the federal budget meant to inform lawmakers about future trends, such as the sustained imbalance between revenues and spending. Often, the…
Lawmakers will face a significant fiscal workload and a limited amount of time when they return to Washington next week following a lengthy recess. (more…)
The House of Representatives is expected to approve a new rule requiring the Congressional Budget Office (CBO) and the Joint Committee on Taxation (JCT) to incorporate the estimated macroeconomic effects of major legislation into their official scores. This process, often…