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We currently have five job openings including communications director, legislative director, and policy anaylst. Those who are interested can visit our jobs page for a detailed description of each position's responsibilities and qualifications.

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Report: The 2015 CBO Long-Term Budget Outlook

The Congressional Budget Office (CBO) released its 2015 Long-Term Budget Outlook, showing a clearly unsustainable long-term path for debt. The featured projections go out 25 years, building off of their more frequently released 10-year projections, and the further they go out, the worse the fiscal picture gets.

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Congress, Watch Out for These Budget Gimmicks

Over the past few years, we have seen many attempts by lawmakers to wriggle out of budgetary discipline by resorting to budget gimmicks. A new CRFB chartbook and one-pager highlight many of these gimmicks, including when they have been used and just how they work. The one-pager, in particular, focuses on four of the most-frequently used gimmicks in recent years.

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Appropriations Watch: FY 2016

The appropriations process is in full swing on Capitol Hill.  As we did last year, we'll be tracking the bills as they move from committee to the House and Senate floor, and on to the President's desk. This blog shows the status of each appropriations bill. To learn more about the appropriations process, read our report: Appropriations 101.

 

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CRFB's Blog: The Bottom Line

Any budget projections, including CBO's long-term outlook, are inherently uncertain, and it is important to understand how projections might change. The agency's usual ten-year projections are uncertain enough and can change based on any number of new developments. That problem only grows when looking out 25 or 75 years into the future.

Health care spending is arguably the most important part of CBO's long-term outlook, since it is a major determinant of the path of deficits over the long term. This year's outlook shows a similar path for health care spending for the next several decades, although it improves towards the end of the 75-year period due to a change in an assumption CBO makes about Medicaid.

As Washington digests this year’s CBO Long Term-Budget Outlook, Robert J. Samuelson of The Washington Post has offered up his criticism of the country’s current fiscal path: The elderly get too much. The real issue, he argues, is that massive and growing spending on the elderly threatens to crowd out domestic spending that liberals support and defense spending that conservatives support.

In their recently released long-term outlook, the Congressional Budget Office (CBO) laid out multiple scenarios for addressing our unsustainable long-term debt path. They show that it would take a long-term deficit reduction path that would include about $2.6 trillion of deficit reduction over the first 10 years to stabilize the debt at current levels. This is about 1.1 percent of GDP per year. However, waiting even 5 years to start would necessitate a reduction of 1.4 percent per year. In other words, stabilizing our debt over 25 years will cost another $850 billion if we wait 5 years instead of acting today.

 
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
  • Communications Director
  • Policy Analyst

Learn more

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.