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Blog | July 2018

Welcome to our blog – The Bottom Line, where you’ll find up-to-date commentary and analysis on the most important news in the fiscal world. Below is a list of our blog posts.
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Have Deficit Projections Doubled Because of the Tax Bill and BBA 2018?

Chairman of the House Ways and Means Committee Kevin Brady (R-TX) appeared on Fox Business this morning, where he was asked about CRFB's analysis...
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Jul 12, 2018 | Budget Process

WATCH: Leon Panetta Testifies Before Budget Process Committee

Committee for a Responsible Federal Budget co-chair Leon Panetta testifies before the Joint Select Committee on Budget and Appropriations Process...
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Jul 11, 2018 | Health Care| Taxes

Ways and Means Committee Considering $92 Billion of Tax Cuts

The House Ways and Means Committee today is marking up a package of 11 tax bills related to health care. The Joint Committee on Taxation (...
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Jul 10, 2018 | Economics

Does CBO "Expect the TCJA to Significantly Boost" the Economy in 2018?

UPDATE: The FRBSF paper has been corrected to remove the erroneous claim that CBO’s growth estimates are well in excess of theirs. The below fact...
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Budget Process Changes in the FY 2019 House Budget

The Fiscal Year 2019 House budget resolution contains a number of interesting budget process proposals. The budget passed out of committee last month...
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Jul 6, 2018 | Other Spending

By 2048, Only 6% of the Budget Will Go to Children

The Congressional Budget Office's (CBO) recent long-term budget outlook not only forecasts rapidly rising levels of debt but also suggests...
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Jul 3, 2018 | Social Security

CBO Projects Social Security Will Run Out of Funds in 13 Years

As we've warned many times before, Social Security is rapidly headed toward insolvency. Recent projections from CBO's Long-Term Budget Outlook...
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Jul 2, 2018 | Health Care

Health Care Spending in the Long-Term Outlook

The Congressional Budget Office's (CBO) long-term outlook shows debt reaching an all-time record as a share of GDP by 2034 and nearly doubling as a...