Rep. Michele Bachmann (R-MN) has released her proposal to reign in federal spending, amounting to over $425 billion in cuts annually.
The House of Representatives this afternoon passed a rule directing Rep. Paul Ryan (R-WI), the chairman of the House Budget Committee, to set non-security spending at 2008 levels for the rest of fiscal year 2011. This level is consistent what the new House leadership promised in their "Pledge to America." Rep.
Today the Republican Study Committee (RSC), the caucus of conservatives in the House of Representatives, announced their proposal for reducing our budget deficits. The plan was introduced by RSC Chairman Rep. Jim Jordan (R-OH) and leader of the RSC's Budget and Spending Taskforce, Rep. Scott Garrett (R-NJ).
OMB recently released an annual report on PAYGO, showing the budgetary impacts of PAYGO legislation, current policy exemptions, and exemptions for emergency legislation. The report details the budgetary impact of all legislation passed since February 12, 2010, when the PAYGO law was enacted.
Can Dreams of Cooperation be Fulfilled? – Yesterday the nation celebrated the legacy of Dr. Martin Luther King, Jr. His vision of unity and reconciliation will be needed as a divided Washington takes on many contentious issues, such as health care repeal and several budget-related issues.
In her latest commentary on CNN Money, CRFB President Maya MacGuineas says that despite the rhetoric on reducing the deficit, some of the high-profile priorities of the new Congress may make the fiscal situation worse.
My Views" are works published by members of the Committee for a Responsible Federal Budget, but they do not necessarily reflect the views of all members of the Committee.
The 112th Congress has moved quickly to signal a new focus on fiscal responsibility and attention to our ballooning national debt. As Congress convened this week the new leadership of the House of Representatives used some of its first actions to implement some of the changes they promised in the election in an attempt to convince voters that they are, quite literally, getting their fiscal house in order.
In the Pledge to America released this past fall, House Republicans called for "[rolling] back government spending to pre-stimulus, prebailout levels, saving us at least $100 billion in the first year alone and putting us on a path to balance the budget and pay down the debt."
Continuing its year-long lesson in "How Not To Budget," the House Wednesday passed legislation that would freeze overall Fiscal Year 2011 discretionary spending at the Fiscal 2010 levels. However, the bill, which narrowly passed 212-206, would rejigger spending within the measure to fund several programs near and dear to members' hearts. The bill now goes to the Senate, which has its own ideas about how to end the budget debacle.