On Tuesday, July 15, the Bipartisan Policy Center held an event commemorating the 40th anniversary of the Congressional Budget Act, which occurred on July 12. The event featured two panel discussions: the first panel included six former Directors of the Congressional Budget Office (including CRFB Board members Alice Rivlin, Rudy Penner, and Dan Crippen), and the second panel consisted of former Chairmen and members of the House and Senate Budget Committees (including CRFB Co-Chair Bill Frenzel and Board member Jim Jones). Bill Hoagland, another CRFB Board member, presided over the event. Both panels touched on the merits of the Congressional Budget Office, which the Budget Act created, and the failure of Congress to pass concurrent budget resolutions in recent years. The speakers also touched on many of the issues raised in our recent paper on the problems with the budget process. On the whole, the panelists stated that the political polarization of Congress, not inadequacies in the Budget Act, was a main reason for the gridlock in the process.