Papers
View our recurring reports, which summarize and analyze the most important regular federal budget releases and reports.
Presentation: Fiscal Policy in a Time of High Inflation
On May 26, 2022, Marc Goldwein of the Committee for a Responsible Federal Budget gave a presentation to the National Economists Club on the possible...
Analysis of CBO's May 2022 Budget and Economic Outlook
Today, the Congressional Budget Office (CBO) released its May 2022 Budget and Economic Outlook, its first baseline in almost a year. CBO’s new...
Fiscal Considerations for the Future of Telehealth
Telehealth services filled crucial medical care gaps during the COVID-19 pandemic and will appropriately remain an important part of the health care...
Can a Carbon Tax Fund Climate Investments?
Though the Senate will not consider the House-passed Build Back Better Act (BBB), there has been some discussion of reviving the legislation’s climate...
Analysis of the President's FY 2023 Budget
The Biden Administration released its Fiscal Year (FY) 2023 budget proposal today, outlining some of President Biden’s tax and spending priorities...
Q&A: Gross Debt Versus Debt Held by the Public
The Q&A has been updated here. On January 31, 2022, the federal government's gross debt exceeded $30 trillion for the first time. This mark serves as...
FACT SHEET: Are Deficits in Decline?
Last month, the federal government ran a surplus of $119 billion, the first monthly surplus since September 2019. The Fiscal Year 2022 deficit is...
The Case for Restoring Discretionary Spending Caps
On February 18, 2022, the current continuing resolution will expire, and legislation will be needed to continue funding the federal government...
Chartbook: Build Back Better for Less
Policymakers are apparently now targeting $1.5 trillion to $2.3 trillion of gross spending increases and tax cuts for their Build Back Better...
Build Back Better for Less: Two Illustrative Packages
Note: We have published a chartbook to accompany this paper. Policymakers are apparently now targeting $1.5 trillion to $2.3 trillion of gross...
Q&A: Everything You Should Know About Government Shutdowns
This paper has been updated here. The new fiscal year (FY) will begin on October 1, 2021, and Congress has so far enacted none of the 12...
Analysis of the 2021 Medicare Trustees' Report
The Social Security and Medicare Trustees released their annual reports on the long-term financial state of those programs. The reports are the first...