CRFB Releases and Events
Today, the Moment of Truth project released a paper outlining the case for indexing federal programs to a more accurate measure of inflation, the chained CPI. Currently, many parts of the federal government -- including parts the tax code, Social Security, and many other programs -- are indexed for changes in either the CPI-U or CPI-W -- even though most economists believe these measures actually overstate inflation.
With Tax Day rapidly approaching and our nation’s fiscal problems being fiercely debated, the timing of today’s events couldn’t be more perfect. We’re talking about this morning’s event – Tax Reform Now: Cutting Rates and Deficits – and the publication of two new papers, each of which present a unique approach to tax reform.
Update 4/4: The Blue Dog Democrats sent a letter to President Obama calling for a compromise on a long-term spending bill to prevent a government shutdown in order move onto "a more serious conversation about the structural issues that plague our nation's fiscal health."
Meet Kate, a fictitious 41 year old Generation X member. How will our leaders’ fiscal choices affect her life? In our fifth and final installment of our “Meet the Generations” series, we look at Kate’s fiscal future, based on the two alternative futures scenarios from our recent paper “America’s Fiscal Choices at a Crossroad: the Human Side of the Fiscal Crisis”.
In light of the recent debates over Social Security, CRFB's latest paper attempts to clarify how the program relates to the federal budget and budget deficits. Some say that Social Security is a completely independent program and contributes nothing to the budget deficit, while others argue that it is in fact the largest government program and adds to overall deficits since it spends more than it takes in. So who's correct?
Meet Edna, a 75-year-old fictitious senior citizen. In the third installment of our "Meet the Generations" series, we take a look how policymakers' action (or inaction) could affect her life, as outlined in CRFB's March 10 paper "America's Fiscal Choices at a Crossroad: The Human Side of the Fiscal Crisis".
In her recent column, Ruth Marcus, of The Washington Post declared:
“Don’t call me a deficit hawk. Call me a deficit panda.”
Seeking a cuddlier image for the mantle of fiscal responsibility, she continues:
Today, a bipartisan group of 64 Senators sent a letter to President Obama urging him to show leadership on reducing the federal deficit and to take a broader approach in addressing our nation's fiscal problems.