Latest
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The Short-Run Problems of US Debt
Jeanne Sahadi wrote for CNN today on the sometimes-overlooked short-term perils that the growing US debt could create, and how they affect the average...
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Deficits, GDP, and Automatic Stabilizers
According to a new CBO report, automatic stabilizers added about $282 billion to the federal deficit last year and are projected to add $351 billion...
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Follow the Yellow Brick Road
We at CRFB believe in the Wizard of Oz theory of deficit reduction. Passing the right package of spending cuts and tax increases requires a brain – so...
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Weekend Editorial Roundup
Here are the highlights from this weekend’s editorials on fiscal and budget policy: In light of Obama advisor Larry Summers’ recent speech on the...
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Wolf Airs Concerns on Fiscal Commission
In a publicly released letter to the co-chairs of President Obama’s fiscal commission, Rep. Frank Wolf (R-VA) warned of the “deep and downward slide”...
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‘Line’ Items: Recess and Rescissions
Lots of Assignments Due After Recess – Lawmakers are home this week for the Memorial Day recess. When they come back next week they will have a lot of...
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House Passes Extensions, But Senate Will Wait Until After Recess
The House today passed a one-year extension of various tax breaks as well as expanded unemployment benefits until November on a 215-204 vote. In a...
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Up-Hill Drive for Spending Bills, But No Gas in the Tank for Paying for Them
Two massive spending bills that congressional leaders wanted to dispose of before hitting the road for Memorial Day have hit potholes as lawmakers...
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Carlo Cottarelli Joins the Announcement Effect Club
You might have missed it yesterday, but during the second meeting of the National Commission on Fiscal Responsibility and Reform, IMF Director of...
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CBO Estimates the Effects of the Stimulus
CBO recently put out its quarterly estimate of the macroeconomic effects of the American Recovery and Reinvestment Act of 2009 (ARRA). They found that...
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Fiscal Targets: Why We Need Both Medium and Long-Term Targets
The President's Fiscal Commission has been charged with proposing: "Recommendations designed to balance the budget, excluding interest payments on the...