Budget Projections

Doing More Than Just Hitting the Target

Our blog yesterday noted that the debate over stimulus versus deficit reduction is much more nuanced than is often portrayed. Although these positions are sometimes characterized as directly opposing, there is often a lot of overlap. We described the difference as more about emphasis rather than direction.

MY VIEW: Rudy Penner

In a Tax Policy Center blog, Urban Institute fellow and former CBO director Rudy Penner makes the case for going beyond the amount of deficit reduction necessary to stabilize the debt.

Economists in Favor of Smart Deficit Reduction

A recent op-ed from Joe Scarborough in Politico has brought back attention to the stimulus vs. deficit reduction debate.

How Far We Have to Go on Deficit Reduction

In the past few weeks, we have made the case for putting debt on a downward path as a percent of GDP as a goal for the next round of deficit reduction. This is in contrast to those who have advocated stabilizing the debt over ten years with $1.4 or $1.5 trillion of additional savings and, much more worryingly, those who believe that serious deficit reduction can wait for another ten years.

Peterson Foundation Analyzes the Fiscal Cliff Deal

The Peter G. Peterson Foundation has released a new report on the American Taxpayer Relief Act (ATRA) and its effect on the long-term outlook, similiar to our previous analysis of the medium-term and long-term debt paths after the deal.

Hindsight is 20/20: A Look Back at CBO's Economic Forecasting

Our recent blog "Putting the Debt on a Downward Path" emphasizes how changes in economic projections can affect the budget for better or for worse.

Putting the Debt on a Downward Path

Yesterday, President Obama suggested we need about $1.5 trillion in deficit reduction on top of what has been enacted so far, a claim which matches a recent analysis from the Center on Budget and Policy Priorities showing $1.4 trillion as sufficient to stabilize the debt. As we gear up for another round of

The Post-Deal Long Term Outlook

So far, we have analyzed the fiscal cliff deal by looking at the good, the bad, and the ugly in the package, showing what the deal does to the budget, and estimating the short-term economic impact of the deal. This blog will look at the potential impact of the deal over the long term.

How Does the Budget Look Now?

After a tense few days, or weeks for that matter, lawmakers have enacted a fiscal cliff package -- the American Taxpayer Relief Act. With budget negotiations likely laying low for a few days, we turn our attention to where the deal leaves the budget. We previously analyzed the budgetary effect of each provision of the deal relative to both current law and current policy. In this blog, we will go into more detail on what the budget will look like after the deal.

GAO Releases Its Long Term Fiscal Outlook

The Government Accountability Office has updated its long-term budget outlook, showing once again that our budget deficit needs to seriously be addressed on both the revenue and the spending side. The problem is too big to not put everything on the table.

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