May 8, 2019 | Taxes
Reviving Expired Tax Extenders Could Cost $150 Billion
For years, Washington has resigned itself to a patchwork of tax policy in place for one or two years at a time, allowing niche temporary...
Blog
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.
May 8, 2019 | Budgets & Projections
The Republican Study Committee's FY 2020 Budget: Preserving American Freedom
The Republican Study Committee (RSC) has released its own budget proposal for Fiscal Year (FY) 2020, calling for $10.7 trillion in deficit reduction...
May 3, 2019 | Budgets & Projections
President's Budget Gets Serious About Cutting Waste, Fraud, and Abuse
Update: the tables in this post have been updated with estimates from CBO's analysis of the President's FY 2020 budget. CBO does not provide specific...
May 2, 2019 | Budgets & Projections
CBO's Updated Baseline Shows Grim Outlook
Today, the Congressional Budget Office (CBO) released its updated budget projections. The projections are relatively similar to January and...
Apr 30, 2019 | Social Security
Social Security Shortfall Could Be Worse Than Reported
The 2019 Social Security Trustees Report estimates the program's trust funds face a 75-year actuarial shortfall of 2.78 percent of taxable payroll....
Watch: Unpacking the Social Security Trustees' Report
The Committee for a Responsible Federal Budget hosted a lunch and panel discussion today on Unpacking the Social Security Trustees' Report.
You can...
Apr 25, 2019 | Social Security
Social Security Will Start Spending Trust Fund Reserves Next Year
The 2019 Social Security Trustees' report reminded us that Social Security faces large and rising imbalances, projecting that the theoretically...
Apr 25, 2019 | Social Security
The Good News on Social Security: We Have More Time to Improve Disability Insurance
This week's Social Security Trustees' report warned that the program is on a path toward insolvency, with the theoretically combined trust fund set...
Apr 22, 2019 | Social Security
How Old Will You Be When Social Security's Funds Run Out?
The Social Security Trust Funds are on a path to run out. Use this tool to find out what you stand to lose unless Washington acts.
If you're...
Quick Take: Social Security & Medicare Headed For Insolvency in 16 & 7 Years
The Social Security and Medicare Trustees have released their reports on the financial state of their programs. Both reports show the programs need...
Apr 18, 2019 | Budgets & Projections
GAO: "Federal Government Is on an Unsustainable Fiscal Path"
The Government Accountability Office (GAO) recently released its long-term budget projections, and, like other forecasts, it projects that debt will...
Apr 16, 2019 | Taxes
Maya MacGuineas & Ed Rendell: Tax Day Trauma: Paying for Our Massive National Debt
Maya MacGuineas is president of the Committee for a Responsible Federal Budget and head of the Campaign to Fix the Debt. Governor Ed Rendell is the...
Apr 12, 2019 | Budgets & Projections
Maya MacGuineas and Mike Murphy in USA Today: Disastrous Record Deficits Threaten US Future
Maya MacGuineas is president of the Committee for a Responsible Federal Budget and Mike Murphy is director of the Committee's new initiative, FixUS....
Apr 9, 2019 | Other Spending
House Spending Plan Would Increase Discretionary Spending to Record Levels
The House Budget Committee proposal to raise the caps on discretionary spending would add over $2 trillion in projected debt over the next...
Apr 5, 2019 | Other Spending
House Spending Bill Would Cost Twice as Much as Sequester Repeal
Defenders of the House spending bill have argued that despite its $2.1 trillion debt impact, it is necessary to prevent the return of sequester-level...
Apr 5, 2019 | Other Spending
New Budget Cap Plan Would Cost As Much As the Tax Cuts
Earlier this week, the House Budget Committee reported a bill – the Investing for the People Act of 2019 – that would increase current law caps on...
Apr 2, 2019 | Other Spending
Proposed Budget Plan Would Cost Over $2 Trillion
In lieu of a budget resolution, the House Budget Committee has put forward a bill to increase discretionary spending caps by $358 billion over...
Apr 1, 2019 | Budgets & Projections
Last Year Was the Only Where Congress Did Not Vote On a Budget
Last year was a historically bad year for the Congressional budget process. Since 1976, it was the first time that neither the Senate or House voted...
Mar 29, 2019 | Economics
Was the Federal Reserve’s Monetary Tightening Unprecedented?
In a Wall Street Journal op-ed, House Ways and Means Committee Ranking Member Kevin Brady (R-TX) and former National Economic Council...
Mar 27, 2019 | Budgets & Projections
Tyler Evilsizer: Fiscal Negligence of Recent Congresses Must Be Dealt With Now
Tyler Evilsizer is deputy policy director at the Committee for a Responsible Federal Budget. He recently wrote an opinion piece for...
