Budgets & Projections
Latest
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McCarthy Suggests Increased Focus on Long-Term Budgeting
House Majority Leader Kevin McCarthy (R-CA) tells Politico that his priorities for the next Congress include the budget process, and in particular...
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Why the 40-Year Average is a Poor Benchmark
In response to Howard Gleckman's piece on the FY 2014 deficit where he noted that the budget had returned to "normal," Donald Marron wrote that the...
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How CBO Accounts for Anti-Fraud Efforts
Fraud -- along with the closely related waste and abuse -- is too often cited as a big factor affecting our high deficits, even though this is not the...
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My View: Alan Simpson and Erskine Bowles
Alan Simpson and Erskine Bowles are the former chairs of the Simpson-Bowles Fiscal Commission and members of the Committee for a Responsible Federal...
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Gleckman: A Return to Fiscal Normalcy but Not For Long
In response to the release of final FY 2014 deficit numbers, Tax Policy Center's Howard Gleckman writes that this year's outcome just returns the...
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The More the Budget Changes, the More Things Stay the Same
With FY 2014 officially in the book, it’s time to look back at how spending and revenues have changed since the FY 2009’s highest nominal deficit of...
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Why Has the Deficit Come Down Faster Than Expected?
We noted in our discussion of the final Monthly Treasury Statement for 2014 that the deficit has fallen by two-thirds since 2009 after rising by...
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Report: Deficit Falls to $483 Billion, but Debt Continues to Rise
This paper has been updated for FY 2015 and is now located here. Original October 8th: the Congressional Budget Office (CBO) projected the FY 2014...
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Update: Falling Deficit is Not a Sign of Fiscal Sustainability
With the Treasury Department's year-end Monthly Treasury Statement having been released, we have revised last week's report today showing what the...
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How Medicare Part D's Low-Income Subsidy Could Work Better
During the recent slowdown in Medicare spending, the prescription drug portion of the program, Part D, has been the lead actor in the story. The...
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The Concern Has Always Been Long-Term Deficits
With the FY 2014 deficit continuing a trend of falling deficits over the past few years, some commentators have argued that budget hawks are...
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Delayed Action on Extenders Might Add to FY 2015 Deficit
While explaining why deficits have fallen from their historically large peak in 2009, we noted the main source of this tumble is a 43 percent rise in...