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    CBO's Analysis of the President's FY 2014 Budget

    A Bipartisan Path Forward

    Get the Facts on the Chained CPI

    Our Debt Problems Are Still Far from Solved

CBO's Analysis of the President's FY 2014 Budget

 

With CBO's analysis of the President's budget, CRFB has released a full breakdown of the re-estimate in a press release and paper, which add to our original analysis of the President's budget. Analysis includes an in-depth look at the budget's fiscal metrics and a table showing the savings from the President's policies against different baselines.

Read the press release here and read the CBO paper here.

A Bipartisan Path Forward

 

Erskine Bowles and Al Simpson have released their "Bipartisan Path Forward to Securing America's Future", a detailed $2.5 trillion deficit reduction plan to put our debt on a sustainable path. The plan replaces the sequester with smarter and more targeted reforms to entitlement programs and the tax code. The plan puts debt on a clear downward path to 69 percent of the economy by 2023.

Read the "Bipartisan Path Forward to Securing America's Future" here and read the blog series on the plan here.

Get the Facts on the Chained CPI

 

The Moment of Truth Project has updated its report "Measuring Up: The Case for Chained CPI," making the technical and budgetary case for the chained CPI and describing how it is an improvement over the current measures of inflation. MOT has also released a one-page summary, answers to FAQ's about the provision, a correction of common myths, and testimony to the Ways and Means Committee on the chained CPI.

Our Debt Problems Are Still Far from Solved

 

With CBO's latest budget projections being released, CRFB has updated its paper about where we stand with the budget situation and how much more savings it will take to put our debt on a sustainable path. Getting debt on a downward path will now require $2.2 trillion of additional savings.

Click here to read the paper.

 

CRFB's Blog: The Bottom Line

Although efforts to replace the sequester have been on hold for a while, the House Democrats, led by House Budget Committee ranking member Chris Van Hollen (D-MD), have come out with a bill to replace the remaining 2013 and part of the 2014 sequester with $181 billion of savings over ten years. The bill is similar to one Rep.
The CBO has now spoken on how the President's budget would affect the fiscal outlook. Debt would fall to 70 percent of GDP by 2023, compared to 73 percent under current law and 76 percent under our latest iteration of the CRFB Realistic baseline (though we are still working on the precise number as we get new information).
 In order to avoid bumping up against the statutory debt ceiling, the Department of the Treasury has begun undertaking a number of so-called "extraordinary measures". The current debt limit is $16.394 trillion.
 

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May 19, 2010
CRFB encourages you to check out our budget simulator: Stabilize the Debt! It's no secret that America's finances are a mess. The problem of our mounting debt can't be solved overnight, but we need to start addressing it now. In this online simulator, visitors get to make the hard choices themselves in order to stabilize the debt at 60% of GDP by 2018.
June 16, 2011
Check out CRFB's Fiscal Plan Comparison Tool! The Comparison Tool is an interactive website that allows users to compare up to 3 fiscal plans side-by-side. A countless number of budgets or fiscal plans have been released in the past year and a half, and our new website is an easy way to compare and keep track of them.

CRFB Projects

The Campaign to Fix the Debt is an unprecended and bipartisan coalition that seeks to mobilize members of business, government, and policy communities to urge Congress and the President to enact a comprehensive debt deal.

U.S. Budget Watch is a project of CRFB designed to increase awareness of the important fiscal issues facing the country. Throughout the 2012 campaign, U.S. Budget Watch will provide non-partisan and independent analysis of proposals that have significant fiscal impacts.

The Moment of Truth (MOT) project is a non-profit, non-partisan effort that seeks to foster honest discussion about the nation’s fiscal challenges, the difficult choices that must be made to solve them, and the potential for bipartisan compromise that can move the debate forward and set our country on a sustainable path.