Five Takeaways from the President's Final Budget

President Obama released the final budget of his presidency. In the coming hours, days, and weeks, CRFB will be publishing analysis of the Fiscal Year (FY) 2017 budget. On our blog, we start with five quick takeaways. Click here to read the full paper.

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Analysis of CBO’s January 2016 Budget and Economic Outlook

After falling to a post-recession low of $439 billion in 2015, CBO projects deficits will rise every year in the future, with trillion-dollar deficits returning by 2022. As a result, debt will rise further above today’s record-high levels, remaining on an unsustainable long-term course.

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Interest Rates and the Debt

Even under current projections, interest spending threatens to crowd out other important  priorities, and our high level of debt puts the country’s finances at substantial risk if interest rates rise further than expected. In light of the U.S. Federal Reserve's interest rate hike, learn about the relationship between interest rates and national debt in our most recent paper.

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Fiscal FactCheck Releases Infographic on Candidates' Tax Plans

CRFB’s new Fiscal FactCheck project released an infographic comparing the costs of several GOP presidential candidates’ tax plans. So far, the Tax Foundation has scored plans many candidates, including from Bush, Carson, Cruz, Rubio, and Trump. Although these plans offer a number of thoughtful improvements to the tax code, they would also add trillions to the deficit.

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CRFB's Blog: The Bottom Line

The final budget of the Obama Presidency continues a mix of long-standing policies (including a few that have been in all eight budgets) and policies that are finding their way into the budget for the first time. With regards to new policies, some were previewed during the State of the Union address last month, while others have been laid out in the weeks since then. Here's a rundown of some of the major new proposals in the President's budget.

President Obama released his final budget proposal yesterday, and we released a short paper that analyzes its major policy proposals. This budget would stabilize the debt and use increased tax revenue to pay for new proposals, retroactively pay for December's costly tax extenders package, and deficit reduction. As we explain:

Moments ago, President Obama released the final budget of his presidency. In the coming hours, days, and weeks, CRFB will be publishing analysis of the Fiscal Year (FY) 2017 budget. Below, we start with five quick takeaways.

February 9, 2016
Candidates need credible solutions to fix the debt

Robert L. Bixby, executive director of the Concord Coalition, and Maya MacGuineas, president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt, wrote a commentary that appeared in Fosters, a southern New Hampshire publication, on the day of the New Hampshire primary. It is reposted here.

With New Hampshire preparing for the first of this year’s presidential primaries, pundits are arguing about who has the momentum. But Granite Staters should be asking a much more substantive question: which candidate is committed to addressing the national debt?

June 4, 2013
CRFB's latest interactive tool "The Reformer" is a handy game that allows users to design their own Social Security plan. Users can select from a wide variety of benefit and revenue changes to make the system sustainably solvent. The tool then shows the effect on the program's finances and benefit and tax levels.
September 27, 2011
If you've ever wanted to design your own corporate tax reform, now you can with our new Interactive Tax Reform Calculator. There is no question that the U.S. corporate tax system is badly in need of reform, and leaders in both parties have been pursuing this goal.

Join Our Team!

Current job opportunities at the Committee for a Responsible Federal Budget include:

  • Director of the Fiscal Institute
  • Legislative Director

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CRFB Projects

The McCrery-Pomeroy SSDI Solutions Initiative is dedicated to identifying practical improvements to the Social Security Disability Insurance (SSDI) program. The SSDI Solutions Initiative is calling for academic papers on innovative ways to make the SSDI program better serve workers with disabilities, those who pay into the program, and the economy as a whole.

The Campaign to Fix the Debt is an unprecedented 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.

There is a growing consensus that the budget process is broken. The Better Budget Process Initiative will put forward specific options to reform and improve the budget process in a wide range of areas, including increasing focus on the long-term fiscal outlook, improving the process for dealing with the debt limit, strengthening statutory budget enforcement, revising the content and structure of the budget resolution, moving to biennial budgeting, and addressing treatment of tax expenditures in the budget process.