Committee for a Responsible Federal Budget
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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.

Constructing a "Current Policy" Baseline

Today, US Budget Watch released The Cost of “Current Policy”. In this analysis, we show that, while deeply troublesome, CBO’s $7.1...
Sep 2, 2009 | Budgets & Projections

The Ups and Downs of Buttressing the Economy

Yesterday, the Wall Street Journal posted an article discussing the FDIC’s soon-to-be urgent need to draw money from its $500 billion Treasury...

Pandering to Seniors

Responsible budgeting is always challenging – but it is particularly so when the discussion centers on certain “third rail" issues...
Aug 31, 2009

Wash Post and FT Call For Medium-Term Deficit Reduction Plan

Recently, both the Washington Post (Bad-News Budget) and the Financial Times (Fiscal Challenges for a Recovering US) have written excellent...
Aug 30, 2009 | Budgets & Projections

So What Will the Deficit Really Be?

Last week, the Congressional Budget Office (CBO) released its updated Budget and Economic Outlook and the Office of Management and Budget (OMB) ...
Aug 26, 2009

NewsHour Budget Segment

MacGuineas, Guha, and Wessel on the NEWSHOUR, on the reappointment of Bernanke and the new budget numbers.
Aug 26, 2009 | Budgets & Projections

Put Another $2 Trillion on the Tab

CRFB released this report on OMB's Mid-Session Review. (We will soon release a more detailed analysis.) CBO provides a comparison chart between OMB...
Aug 24, 2009 | Budgets & Projections

OMB's Mid-Session Review Will Show Greater Ten-Year Deficits

Late Friday the White House conceded that ten-year deficits would total around $9 trillion, according to their estimates. This is $2 trillion greater...
Aug 24, 2009

Bernanke at Jackson Hole

The Fed is holding its annual summer retreat at Jackson Hole, Wyoming, which features Fed officials and outside experts discussing the critical...
Aug 21, 2009 | Social Security

Fiscal Space, Stimulus and Entitlement Cuts

Given the weak economy, how do we balance our need for economic stimulus now with our need to get our fiscal house in order to prevent the age and...
Aug 20, 2009 | Budgets & Projections

Mid-Session Review to Report Lower 2009 Deficit

August 20 - Next Tuesday the Office of Management and Budget (OMB) will release their Mid-Session Review of the budget. They plan to announce that...
Aug 19, 2009

Buffett Warns Against Rising Debt-to-GDP Ratio

Warren Buffett has written in the New York Times that significant levels of U.S. spending will prove to pose problems for our economy and currency...
Aug 18, 2009 | Budgets & Projections

Record Monthly and Yearly U.S. Deficit

August 18 - According to Bloomberg, last month's budget deficit hit a record $180.7 billion, higher than any month in U.S. history.Spending in July...
Aug 17, 2009 | Other Spending

Unwanted Defense Spending Draws Presidential Veto Threat

President Obama reiterated his intention to veto any Defense Appropriations Bill that contains superfluous spending provisions today at a Veterans of...
Aug 14, 2009

Obama Economic Advisor Appears on The Daily Show

Austan Goolsbee, chief economist of President Obama's Economic Recovery Advisory Board appears below on the Daily Show with John Stewart. Goolsbee...
Aug 14, 2009 | Economics

The Economy: Expectations and Reality Check

August 14 - Real GDP fell by 6.4 percent and then 1.0 percent in the first two quarters of the year. As of the second quarter, real growth was 4...
Aug 12, 2009 | Economics

FOMC Leaves Stance Unchanged

August 12 - The key Fed policymaking body, the Federal Open Market Committee (FOMC), released its statement today following its regularly scheduled...

CRFB Discusses CBO Social Security Projections

August 11 - Today, CRFB released a report highlighting its take on CBO's Long-Term Projections for Social Security. Last year, the CBO projected...

CBO Reports on Social Security

August 8 - Today, the Congressional Budget Office (CBO) released its Long-Term Projections for Social Security. According to the CBO: "...
Aug 6, 2009 | Budgets & Projections

CBO Releases Budget Options Volume 2

August 6 - Today, the CBO released the second of two lengthy reports outlining the budgetary options of various policies likely to be undertaken by...

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