Latest
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It’s Time for a New Fiscal Commission
Yesterday, Speaker McCarthy suggested the idea of a bipartisan fiscal commission to explore long-term budgetary issues. The following is a statement...
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Statement on House Passage of Fiscal Responsibility Act
The House of Representatives recently passed the Fiscal Responsibility Act (FRA), which according to CBO would reduce debt levels by roughly $1.5...
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Congress Should Act Swiftly to Pass Fiscal Responsibility Act
The House will vote tomorrow on the Fiscal Responsibility Act of 2023 – bipartisan legislation to limit discretionary spending, suspend the debt limit...
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CRFB Reacts to Budget Agreement
Speaker McCarthy announced this evening that he and the President have reached an agreement in principle on a bipartisan plan to reduce deficits and...
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Rescinding COVID Relief Funds Saves $30 Billion
As policymakers negotiate a deal to raise the debt ceiling and reduce deficits, reports suggest that rescinding remaining COVID relief funds may be an...
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Student Debt Cancellation Should Be Repealed
The House of Representatives will vote today on a joint resolution disapproving the President’s August 2022 student loan cancellation plan and...
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Maya MacGuineas on C-SPAN's "Washington Journal"
Committee for a Responsible Federal Budget President Maya MacGuineas recently joined C-SPAN's "Washington Journal" to talk about the ongoing...
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Maya MacGuineas on CNBC's "Power Lunch"
Committee for a Responsible Federal Budget President Maya MacGuineas recently joined CNBC's "Power Lunch" to discuss the debt ceiling negotiations...
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Debt Explodes Under Alternative Scenarios
The Congressional Budget Office's (CBO) new ten-year budget projections estimate that debt will reach a record 119 percent of Gross Domestic Product...
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Interest Overtakes Kids' Spending
Interest on the debt is the fastest growing item in the federal budget, and in Fiscal Year (FY) 2023 the federal government will spend more on net...
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Meeting Fiscal Goals Under CBO's May 2023 Baseline
We estimate that it would take $16.0 trillion of deficit reduction to balance the budget over a decade, $3.5 trillion to stabilize debt at 110 percent...
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CBO Projections Highlight Need for Deficit Reduction
Today, the Congressional Budget Office (CBO) released its Updated Budget Outlook, which presents a new ten-year baseline that incorporates new...