The Bottom Line

March 16, 2011

Update: Adam Looney of The Hamilton Project participated in today's chat in place of Bill Frenzel - still a very interesting read, check it out below!

Today at 12:30pm, former Congressman Bill Frenzel will be participating in a live chat to answer questions about the on-going budget negotiations. David Mark, senior editor at Politico, will moderate the discussion.

March 15, 2011
"Meet the Generations" Blog Series

CRFB has released a new paper called America's Fiscal Choices At a Crossroad: The Human Side of a Fiscal Crisis, which was released in conjunction with our event last week and the announcement of our fiscal video contest winners ("Voices of America").

March 15, 2011

UPDATE: The Senate passed the House three-week CR by a vote of 87-13, with nine Republicans and four Democrats opposing. President Obama will sign the CR on Friday. Lawmakers now have until Friday April 8 to reach an agreement on funding for the rest of the fiscal year.

March 15, 2011

Everyone can recognize that the budget process is broken, but unfortunately not much has been done so far to fix it. Work such as the Peterson-Pew Commission's report, Getting Back in the Black, offers some great solutions for moving forward. It seems that policymakers may finally be waking up to these ideas. Today we will see two interesting developments that may help build momentum for budget process reform in the near future.

March 14, 2011

Brackets – As many busy themselves today going over the brackets for the big tourney, picking the next Cinderella and who will win it all, the real challenge for prognosticators remains predicting how the budget impasse will pan out. The budget process has gotten uglier than the 68 team bracket and all the moving parts – FY 2011 spending, the FY 2012 budget and the debt limit – make the road to Houston look like an easy jaunt.

March 11, 2011

A short-term continuing resolution (CR) is looking more and more likely each day. With few details being reported about the current budget negotiations on Capitol Hill on spending levels for the remainder of the fiscal year, we're getting closer to March 18--when the current two-week CR expires.

March 11, 2011

Updated: Representative Jan Schakowsky (D-IL), formerly of the President's Fiscal Commission, has introduced similar legislation in the House.

March 11, 2011

Going into further detail on one of the most useful CBO reports, Budget Options, there are a plethora of very interesting policies that CBO has scored. While there are over 100 different options with cost estimates, we have selected four from each area of the budget to highlight just some of what's included in the report.

While no where near exhaustive, these options can serve as a guide for policymakers in discussing the budgetary impacts of many policies appearing in some discussions today.

March 10, 2011

On March 10, the Committee for a Responsible Federal Budget hosted a terrific event entitled America at a Crossroad: The Human Side of the Fiscal Crisis. The event was made possible by the MacArthur Foundation. The purpose was to bring together the major stakeholders and experts on the issues of fiscal reforms, to discuss the benefits of early action to avert a fiscal crisis (whether sudden or gradual) and the calamitous effects a crisis would have on everyday Americans.

March 10, 2011

Today the House Budget Committee convened a hearing on the burden of mounting national debt on the country and how to address it. The committee heard from a panel of four witnesses, including CRFB President Maya MacGuineas.

March 10, 2011

PIMCO founder Bill Gross - the managing director of the world's largest bond fund - made headlines today when it was reported that he eliminated all US government-related debt from his Total Return Fund last month. The fund totals $237 billion, and Gross had already cut its holdings of government debt to 12 percent in January.

March 10, 2011

Today, CBO released an updated version of its giant compilation of potential savings from various spending and tax options. The report covers all areas of the budget--from domestic discretionary, to defense, to mandatory programs, to taxes and tax expenditures. The report includes some previous options with updated cost estimates in addition to many new budget options.

March 10, 2011

Today is a busy day for budget and fiscal policy, especially for us at CRFB. Not only do we have our "The Human Side of the Fiscal Crisis" forum today, but CRFB President Maya MacGuineas will testify at a House Budget Committee hearing on "Lifting the Crushing Burden of Debt" at 10 am. 

March 10, 2011

CRFB today is hosting a timely and unique policy forum on "The Human Side of the Fiscal Crisis." The event kicks off at 9 am and features a stellar lineup of participants from a wide array of backgrounds and perspectives.

March 9, 2011

It was the best of times, it was the worst of times? Let's just go with the worst of times.

March 8, 2011

In an effort to maintain the momentum created by the President's Fiscal Commission, the commission's co-chairs -- former Sen. Alan Simpson and former White House chief of staff Erskine Bowles -- have reunited to create the Moment of Truth Project.

March 8, 2011

Two important events are lined up for today. First, the Senate Budget Committee will hear testimony from Erskine Bowles and Senator Alan Simpson, co-chairs of the President's Fiscal Commission.

March 7, 2011

Given the recent events in Wisconsin, we decided that the Spotlight on the States series should take a brief trip over to the Badger State.

March 7, 2011

Lots of Stopgaps, Little in Closing the Fiscal Gap – Washington averted a government shutdown last week by agreeing on a two-week continuing resolution (CR) that cuts $4 billion in spending. This is the fifth stopgap measure funding the federal government since the 2011 fiscal year began on October 1, 2010. The posturing and procrastination so far have resulted in little in the way of reducing our mounting national debt.

March 7, 2011

In her latest commentary for CNN Money, CRFB president Maya MacGuineas focuses on the need to reform Social Security. While there has been some momentum behind entitlement reform, partisan bickering and the polarizing nature of these issues have impeded any significant progress. 

Click here to read the full article.

Syndicate content