The Bottom Line

September 12, 2012

For all you can say about the budget process in recent years, at least this time Congress is on track to resolve spending levels ahead of a deadline -- not the April 15 budget resolution deadline, but the absolute minimum September 30 deadline.

September 11, 2012
Don’t Delay Fencing Off the ‘Fiscal Cliff’

CRFB board member Barry Anderson, along with Steve Bell of the Bipartisan Policy Center and Joe Minarik of the Committee for Economic Development, write in today's The Hill that letting the country go off the cliff and cleaning up the mess later would create even more problems for Congress.

September 11, 2012

Today, the credit rating agency Moody’s made it clear that it is unlikely that the U.S. will be able to maintain its Aaa rating unless a comprehensive budget deal is reached. According to Moody’s, the only way the U.S.

September 11, 2012

As the Troubled Assets Relief Program (TARP) continues to wind down, the biggest programs remaining are the support of GM and AIG. The latest estimate of TARP from CBO projected the two programs would cost $41 billion combined, larger than the $32 billion overall cost projection for TARP. That means the remaining elements of TARP have been a net gain for taxpayers.

September 10, 2012

In an op-ed in the Philadelphia Inquirer, Campaign to Fix the Debt Co-Chair Ed Rendell called for politicians to rise above partisan politics and choose the "third path" between the fiscal cliff and the mountain of debt from waiving the cliff entirely. He held up fellow Pennsylvania lawmaker Rep.

September 10, 2012

In a joint POLITICO ad with the Concord Coalition and the Bipartisan Policy Center, the Committee for a Responsible Federal Budget sent an open letter to leaders in Washington telling them to, well, lead!

September 7, 2012

Last night, President Obama gave his acceptance speech in Charlotte (with our team on the ground). Among the many points in his speech, President Obama talked about our nation's debt. He claimed that his plan would save $4 trillion over the next ten years. Doing what they try do best, fact checkers looked at his numbers. And this time, CRFB's own analysis was there to help.

September 7, 2012

The final night of the Democratic National Convention means that convention season is finally over. The campaigns now come into the home stretch, with debates and endless travel ahead.

September 6, 2012

Not to be outdone by the first day, day 2 of the Democratic National Convention once again featured a full lineup of speakers, including House Minority Leader Nancy Pelosi (D-CA), House Minority Whip Steny Hoyer (D-MD), House Budget Committee ranking member Chris Van Hollen (D-MD), Massachusetts Senate candidate Elizabeth Warren, and former President Bill Clinton.

September 5, 2012

Day 1 in Charlotte at the Democratic National Convention was an exciting one, although it was a very wet one. The heavy rain did not hold back the convention itself or the Fix the Debt team.

September 5, 2012

On Monday night, Nightly Business Report dedicated a full 25 minute video to discussing the fiscal cliff. The segment involved many different prospectives, from the economics of the cliff to the impact on the real economy and markets.

Fix the Debt Co-Founders and Fiscal Commission Co-Chairs Erskine Bowles and Alan Simpson also appeared in a few segments to discuss the cliff, our debt woes, and the plan that bears their names.

September 4, 2012

In a Washington Post column entitled "It's Time for the Grown-Ups to Step Up in Washington," Fortune magazine senior editors Allan Sloan and Geoff Colvin make recommendations for lawmakers to follow if they want to "grow up," as they put it.

September 4, 2012

After spending last week at the Republican National Convention, the Fix the Debt Team is taking up residence in Charlotte for the Democratic National Convention until Thursday. Once again, the team will be on the ground, talking up fiscal responsibility and hoping that fiscal issues will play a role at this convention.

August 31, 2012

Social Security trustee Charles Blahous has a interesting new commentary on the long-run sustainability of the Social Security program. The combined Social Security (OASDI) trust fund is due to be exhausted by 2033, but that measure, Blahous claims, gives the mistaken impression that we still have time to wait to make changes.

August 31, 2012

The final night of the Republican National Convention was an eventful one, featuring speeches from the likes of former Gov. Jeb Bush (FL), Sen. Marco Rubio (FL), and, yes, Clint Eastwood. The headline, of course, was former Gov.

August 31, 2012

We have talked before about the long run unsustainable growth of our health care spending. But when it comes to controlling Medicare and Medicaid costs, there will inevitably be plenty of room for political attacks. In a video and an accompanying article in The Wall Street Journal, David Wessel explains that health care spending deserves reasoning, not rhetoric.

August 30, 2012

Continuing our Updates From the Convention series, we head into the final night of the Republican National Convention. No doubt the speech to watch tonight will be from former Gov. Mitt Romney as he accepts the Republican nomination for President. With the RNC's national debt clock nearing $16 trillion, Mitt Romney should devote part of his speech tonight to his plan to tackle the federal debt.

August 30, 2012

Last night featured an all star cast of speakers, from Vice Presidential nominee Rep. Paul Ryan (R-WI) to Sen. John McCain (R-AZ) to former Secretary of State Condoleezza Rice. But one of the lines that stuck with us from last night came from Sen. Rand Paul (R-KY):

August 30, 2012

The New York Times' "Room for Debate" this week takes on our federal debt with a forum entitled "Is the Deficit Urgent, or a Distraction?" Writing in favor of the "urgent" side, naturally, were CRFB president Maya MacGuineas and Fiscal Commission co-chair and Fix the Debt co-founder Erskine Bowles. 

August 29, 2012

Continuing our Updates from the Conventions series, we look forward to tonight's convention schedule, packed with some of the biggest names in the Republican Party. But one of the highlights of the night should be the speech at 10:00pm from the Vice Presidential candidate Rep. Paul Ryan (R-WI).

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