Papers
View our recurring reports, which summarize and analyze the most important regular federal budget releases and reports.
Maya MacGuineas's House Budget Testimony on the 3% Fiscal Target
On March 26, 2026, Committee for a Responsible Federal Budget President Maya MacGuineas testified before the House Budget Committee on "The Best...
A Six Figure Limit for Social Security
Social Security is less than seven years from insolvency, at which point the law calls for a 24% across-the-board benefit cut. Yet despite facing...
Q&A: Gross Debt Versus Debt Held by the Public
On March 17, 2026, the gross national debt exceeded $39 trillion for the first time. This mark serves as an important reminder of the nation's...
Maya MacGuineas's Senate Testimony on the Fiscal Outlook 2027-2036
On March 11, 2026, Committee for a Responsible Federal Budget President Maya MacGuineas testified before the Fiscal Responsibility and Economic Growth...
Break Glass: A Plan for the Next Economic Shock
The U.S. has never experienced an economic shock as indebted as we are today. Recessions and other economic shocks are inevitable. Although the timing...
Chartbook: The February 2026 CBO Baseline: What It Says (and What It Means)
On February 18, 2026, Chris Towner, policy director of the Committee for a Responsible Federal Budget, gave a presentation on the February 2026...
CBO’s February 2026 Budget and Economic Outlook
The Congressional Budget Office (CBO) released its February 2026 Budget and Economic Outlook today, updating its January 2025 baseline to account for...
FY 2027 Budget Resolution Principles
A fiscally responsible budget resolution should abide by the following principles: Set a meaningful fiscal goal with a plan to meet that goal Develop...
Government Shutdowns Q&A: Everything You Should Know
Fiscal Year (FY) 2026 began with the longest government shutdown in modern history, lasting from October 1, 2025 through November 12, 2025. On...
Statement for the Record on Reverse the Curse: Skyrocketing Health Care Costs and America’s Fiscal Future
The Committee for a Responsible Federal Budget submitted a statement for the record pertaining to the House Budget Committee hearing on "Reverse the...
It’s (Still) Time for a Bipartisan Fiscal Commission
The U.S. fiscal outlook is currently unsustainable. A new fiscal commission can help policymakers work on a bipartisan basis to identify the necessary...
What Would a Fiscal Crisis Look Like?
The U.S. national debt is approaching record levels as a share of Gross Domestic Product (GDP) and currently stands at 100% of GDP, while interest...