Happy Fiscal New Year! 15 Numbers from FY 2015

We've reached the end of Fiscal Year 2015. As we look forward to the important work lawmakers face this coming year, let us also take a brief look back at the happenings over the past fiscal year. Since one number cannot sufficiently describe FY 2015, we picked our 15 favorites.The first on the list is debt held by the public: $13,142,733,278,888.

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Q&A: Everything You Should Know About Government Shutdowns

Congress is working on a plan for a clean CR, but whether that move will succeed or not is uncertain. To help prepare for the shutdown, wes released a new primer on the consequences of a government shutdown. The Q&A goes through the funding process and the budgetary, economic, and administrative consequences of a shutdown.

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A Fiscal Storm is Approaching Congress

Lawmakers have dealt with several Fiscal Speed Bumps – budgetary deadlines – throughout the year, but quite a few will appear over the next few months, making for an eventful fall. CRFB's latest report, "The Gathering Storm: Fiscal Clouds Amass This Fall" details what policymakers have to address and the stakes associated with each remaining Speed Bump.

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Sequester Offset Solutions Plan

We're offering a plan to improve the economy and our fiscal situation by providing responsible sequester relief, the Sequester Offset Solutions (SOS) plan. SOS is a four-part plan to replace a portion of the discretionary cap reductions under the sequester with more thoughtful long-term savings.

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CRFB's Blog: The Bottom Line

The Urban Institute published a new report showing that younger generations will receive much more in lifetime Social Security and Medicare benefits than today's retirees, and all generations will receive more benefits than they have paid in taxes.

Last week, the Technical Panel to the Social Security Advisory Board issued a report on the assumptions and methods used by the Social Security Trustees Report. The Technical Panel's role is to improve the way the Trustees analyze the health of the Social Security program. With this year's findings and suggested changes to the technical assumptions, the result would be a worse than the originally projected outlook for Social Security's financial wellbeing.

October 5, 2015
A Republican Congressional Legacy

Senate Majority Leader Mitch McConnell (R-Ky.) has declared that there will be no shutdowns and no gamesmanship as we go into this fall and the next round of debt-ceiling governance.

Since Republicans took full control of Congress in the 2014 midterm elections, there has been plenty of discussion about the use of reconciliation, a fast-track process that most importantly allows the Senate to pass legislation with 51 votes by allowing it to bypass the 60 votes needed to end a filibuster. The FY 2016 budget resolution included reconciliation instructions for three House Committees (Education and the Workforce, Energy and Commerce, Ways and Means) and two Senate Committees (Finance and HELP) to save at least $1 billion each by rolling back the Affordable Care Act. In recent days, all three House Committees have released their bills, so we now have a better idea of what's in the package.

June 4, 2013
CRFB's latest interactive tool "The Reformer" is a handy game that allows users to design their own Social Security plan. Users can select from a wide variety of benefit and revenue changes to make the system sustainably solvent. The tool then shows the effect on the program's finances and benefit and tax levels.
September 27, 2011
If you've ever wanted to design your own corporate tax reform, now you can with our new Interactive Tax Reform Calculator. There is no question that the U.S. corporate tax system is badly in need of reform, and leaders in both parties have been pursuing this goal.

Join Our Team!

Current job opportunities at the Committee for a Responsible Federal Budget include:

  • Director of the Fiscal Institute
  • Legislative Director
  • Policy Analyst, Fiscal Institute

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CRFB Projects

The McCrery-Pomeroy SSDI Solutions Initiative is dedicated to identifying practical improvements to the Social Security Disability Insurance (SSDI) program. The SSDI Solutions Initiative is calling for academic papers on innovative ways to make the SSDI program better serve workers with disabilities, those who pay into the program, and the economy as a whole.

The Campaign to Fix the Debt is an unprecedented and bipartisan coalition that seeks to mobilize members of business, government, and policy communities to urge Congress and the President to enact a comprehensive debt deal.

There is a growing consensus that the budget process is broken. The Better Budget Process Initiative will put forward specific options to reform and improve the budget process in a wide range of areas, including increasing focus on the long-term fiscal outlook, improving the process for dealing with the debt limit, strengthening statutory budget enforcement, revising the content and structure of the budget resolution, moving to biennial budgeting, and addressing treatment of tax expenditures in the budget process.