The Bottom Line

February 17, 2011

Today, Erskine Bowles and Sen. Alan Simpson, the co-chairs of the President’s National Commission on Fiscal Responsibility and Reform, published an op-ed in The Hill offering their reactions to the President’s FY2012 budget. Bowles and Simpson write:

February 17, 2011

Last night on The Daily Show, Jon Stewart spent part of the episode talking about our favorite topic: how to fix the federal budget. Needless to say, the show's suggestions were pretty hilarious.

Click here to check it out or watch below:

 

February 16, 2011

Continuing our analysis of the President's 2012 Budget, we have just published our latest paper that takes a look at the 2012 proposal in more detail.

We go over more specific aspects of the budget, where it makes admirable progress, and where it comes up short. We will be continuing our blog series on the President's proposal throughout the week, so keep checking back with us.

February 16, 2011

In their reaction to the President's FY 2012 budget proposal, the House Republican leadership has been very critical of the President's reluctance to use this opportunity to address the true drivers of our mounting debt -- the largest of which being entitlements. And now, Republicans have pledged to take up this daunting challenge.

February 16, 2011

The President sent the country a Valentine Monday. But while the budget may have been concocted with love, in it there is only a touch of sweet and a lot of bitter for all.

For the liberal core constituencies, the sugary “investments” will not overcome the bitterness of the freezes and reductions. Yes, the budget has goodies for the States (unemployment compensation), promotes high-speed rail, and boosts education and environmental policy. But, no, it does not cut defense sharply enough, nor defend favorite domestic discretionary programs, like LIHEAP.

February 15, 2011

Welcome to our fourth installment in our FY 2012 budget blog series! In this one, we'll focus on any budget process proposals in the budget.

February 15, 2011

In continuing our discussion of the President's FY 2012 budget proposal, we take a closer look at the recommendations to adjust discretionary spending.

February 15, 2011

In her latest commentary for CNN Money, CRFB president Maya MacGuineas lays out the many reasons we need a fiscal turnaround plan. She argues that fixing our nation's fiscal problems requires more than simply "getting the numbers in the budget to add up"; it means rethinking the entire structure of the federal budget as well as the way the government spends and takes in money.

February 14, 2011

The New York Times today had another round of expert debate on President Obama's budget. CRFB President Maya MacGuineas was featured.

February 14, 2011

With the much-anticipated release of the FY 2012 President's budget, The Bottom Line will offer detailed analysis of every aspect of the budget in a blog series over the next few days. Our first blog (this one!) will introduce the broad framework.

February 14, 2011

In response to this morning's release of the President's FY 2012 budget, CRFB has published its initial reaction to the President's proposal. We outline some of the positive and negative aspects of the budget, and note where it could have gone further. According to CRFB president Maya MacGuineas:

February 14, 2011

With the release of the President's FY 2012 budget proposal earlier today, the Washington Post is hosting an online Q&A session on the issue with CRFB's very own Policy Director, Marc Goldwein. It will be taking place at 12:30pm today -- be sure to ask questions!

Click here to join the discussion!

February 14, 2011

 

The day we've all been waiting for is finally here: President Obama has just released his FY 2012 Budget!

Click here to read the budget proposal, and check back with us soon for our initial reaction and a more in-depth analysis to follow.

February 14, 2011

Share the Love – Today’s the big day: messages will be sent, some will be showered with love, and others will feel left out. Of course, today is Budget Day, with the White House releasing its Fiscal Year 2012 budget request. [We also have a nagging feeling we should be sending flowers to loved ones for some reason.] The release of the budget will set off a debate over priorities and fiscal responsibility for next year.

February 11, 2011

Yesterday, a bipartisan group of four Representatives introduced legislation to establish a permanent sunset commission. Representatives Jim Cooper (D-TN), Aaron Schock (R-IL), Mike Quigley (D-IL), and Joe Walsh (R-IL) introduced the "Federal Program Sunset Commission Act" (H.R. 606) in an effort to abolish "duplicative, unnecessary, or inefficient programs."

February 11, 2011

The President of the Atlanta branch of the Federal Reserve, Dennis Lockhart, made some important statements regarding our fiscal situation. While the Federal Reserve has no authority over our fiscal policy, the fact that more and more Fed officials are calling on our policymakers to deal with our fiscal house should be seen as a wake-up call that the time to delay is over.

February 10, 2011

While this week’s government bond auctions ($72 billion worth) were digested more easily than expected, yields for the benchmark 10-year bond and 30-year bond rose slightly and were at their highest points since last May.

February 10, 2011

Updated February 10th to include National Infrastructure Bank.

As the budget world waits for the FY 2012 Budget on Monday, some new proposals from that budget have already been leaked or presented by Administration officials. Let's take a look at them.

February 9, 2011

There’s been a lot of discussion about the recent spending cuts put forward by Representative Ryan (R-WI), designed to bring non-security discretionary spending back to 2008 levels for the remained of FY2011. Some of the right have criticized these cuts for being too mild, while others on the left have called them draconian.

February 9, 2011

Today, House Appropriations Committee Chairman Harold Rogers (R-KY) released a preliminary proposal for cuts to the President's FY2011 budget, totaling $74 billion in savings. Congress must pass a continuing resolution (CR) appropriating federal spending for the rest of the fiscal year before the current CR expires on March 4 to prevent a government shut-down.

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