Committee for a Responsible Federal Budget

Media Coverage

Feb 27, 2017|The Lombardi Letter

Rising U.S. National Debt Forecast for the Next 10 Years

First things first, according to the overly optimistic Congressional Budget Office, Trump inherited a national debt above $19.0 trillion, 2017 deficit of $559.0 billion, and a still sluggish economy. Not only did Trump’s presidency begin with the second-highest debt-to-GDP ratio ever, but debt under current law is forecast to rise unsustainably over the next 10 years. (Source: “The Budget and Economic Outlook: 2017-2027,” Committee for a Responsible Federal Budget, January 24, 2017.)

Feb 27, 2017|The Portland Press Herald

LePage repeats disputed claim about Medicare funding on Fox News

The governor’s claim is similar to one made by former Republican presidential hopefuls Mike Huckabee and Mitt Romney, who have said $700 billion was stolen from the federal medical insurance program that covers health care for those 65 and older. But according to the Committee for a Responsible Federal Budget, a nonprofit and nonpartisan Washington-D.C. based think tank on the federal budget, the enactment of the ACA did not reduce the amount of money going to pay for Medicare but reduced the amount Medicare spends.

Feb 27, 2017|Politico

Prime time Trump (Morning Money)

It also ignores the fact that nothing Trump has done or said has anything to do with the January Treasury data. Via CRFB’s Maya MacGuineas: “It is true the debt outstanding declined by $12 billion in the first month of Donald Trump’s presidency. … [T]he improvement this early in his term has to do with normal fluctuations in spending and revenues rather than new policies he has implemented.”

Feb 26, 2017|Ynaija

Fact Check: Donald Trump is right this time; America’s national debt really has decreased

Going by the US Department of Treasury’s figures, as at close of business on Thursday, the national debt was $33,403,435,024.34 lesser than when Trump took office on January 20th.

Great news, right?

Even the president of the nonpartisan Committee for a Responsible Budget, Maya MacGuineas, confirmed it to be accurate.

So why isn’t the media blaring it?

Here’s the rub, the decrease in America’s public debt has absolutely nothing to do with Trump or his economic policies.

Feb 26, 2017|The Motley Fool

8 Medicare Stats That Will Blow You Away

If the ACA is repealed, our government will lose an estimated $800 billion in tax revenue, according to the not-terribly partisan Committee for a Responsible Federal Budget. It's a little more complicated than that, though: "According to our latest estimates, repealing the ACA in its entirety would cost roughly $350 billion through 2027 under conventional scoring and $150 billion using dynamic scoring." Also: "Repealing the ACA's coverage provisions would save $1.55 trillion through 2027, while repealing its tax increases would cost $800 billion, and repealing its Medicare (and related) cuts would cost another $1.10 trillion. Repeal would also lead to a small increase in economic growth, which could produce over $200 billion of additional net savings." Clearly, there are costs and savings realized via a repeal. 

Feb 26, 2017|Wicked Local Weymouth

Patient production must remain a priority

The Center for a Responsible Federal Budget and the Congressional Budget Office estimate that total ACA repeal would eliminate coverage for as many as 23-24 million non-elderly people by 2026 and could reduce benefits for the 57 million people covered by Medicare and Medicare supplemental insurance programs. Those losing insurance would return to using costly hospital emergency rooms as the health care resource of last resort.

Feb 26, 2017|Arkansas Online

Contacts risk panel inquiry, senator says

"We applaud the president for focusing on the debt as an important metric of success and economic health, but would point out that the improvement this early in his term has to do with normal fluctuations in spending and revenues rather than new policies he has implemented," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.

Feb 25, 2017|Yahoo News

Trump seeks credit for debt reduction driven by normal cash flow

“We applaud the president for focusing on the debt as an important metric of success and economic health, but would point out that the improvement this early in his term has to do with normal fluctuations in spending and revenues rather than new policies he has implemented," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.

Feb 25, 2017|The Washington Times

Trump demands credit for drop in national debt

“Going forward, the president will be accountable for his plans to bring down the debt, and we look forward to seeing the debt path he proposes in his forthcoming budget,” said Maya MacGuineas, president of the Committee for a Responsible Federal Budget. “He has been critical of the run up in the debt in the past, and we assume and hope his budget will have a plan to shrink our country’s debt, not grow it.”

Feb 25, 2017|The Detroit News

Trump seeks reduced debt credit; economists disagree

“We applaud the president for focusing on the debt as an important metric of success and economic health, but would point out that the improvement this early in his term has to do with normal fluctuations in spending and revenues rather than new policies he has implemented," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.

Feb 25, 2017|Bloomberg Politics

Trump Wants Credit for Cutting the National Debt. Economists Say Not So Fast

“We applaud the president for focusing on the debt as an important metric of success and economic health, but would point out that the improvement this early in his term has to do with normal fluctuations in spending and revenues rather than new policies he has implemented," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget.

Feb 25, 2017|CBS News

Fact-checking Trump's claim about debt dropping by $12B in last month

Later in the day, the president of the nonpartisan Committee for a Responsible Budget said that while the debt outstanding did decline by $12 billion in his first month, it had nothing to do with new policies implemented by his administration.

Feb 25, 2017|The Washington Post

Trump is upset the media is not reporting a meaningless statistic about the national debt

The Committee for a Responsible Federal Budget, an anti-debt group, meanwhile, says the government would need to cut the deficit by $3.3 trillion over the next decade simply to maintain the current GDP-to-debt ratio. We will learn more about Trump's plan when he releases his budget next month.

Feb 25, 2017|The New York Times

National Debt Dips. Trump Crows. Well, Sure, but …

Maya MacGuineas, president of the Committee for a Responsible Federal Budget, issued a statement applauding the president for focusing on the national debt while noting that “the improvement this early in his term has to do with normal fluctuations in spending and revenues rather than new policies he has implemented.”

Feb 24, 2017|BenefitsPro

Economist cautions against lavish growth projections

Basing White House budget proposals on economic assumptions is a longstanding practice, says Marc Goldwein, senior vice president and policy director at the Committee for a Responsible Federal Budget, a non-partisan think tank that advocates for fiscal discipline.

Feb 24, 2017|The Fiscal Times

A Military Buildup and Big Tax Cuts: Is the Debt Set to Soar Under Trump?

Last month, the non-partisan Congressional Budget Office (CBO) projected that after seven years of declines, the federal budget deficit is projected to surge again and will add nearly $10 trillion to the federal debt over the next decade. The Committee for a Responsible Federal Budget calculated last year that Trump’s corporate and individual tax cuts and spending initiatives would add $5.3 trillion more to the national debt in the next ten years.

Feb 24, 2017|The New York Times

Why Undoing Obamacare Will Be So Hard

According to the Committee for a Responsible Federal Budget, the Medicaid expansion and the exchange subsidies will cost $2 trillion over the next 10 years. Some of that would be paid for by a variety of savings in the expenses of Medicare and Medicaid.

Feb 24, 2017|USA Today

Trump budget battle may be looming over National Endowment for the Arts

“When you have debt higher than at any time since Harry Truman , everything needs to be on the table, but at the end of the day, anything we do to reduce agencies, reduce discretionary spending will help, but it’s only buying time,” said Marc Goldwein, policy director for the Committee for a Responsible Federal Budget . “Ultimately, if we don’t slow the growth of health and retirement programs, nothing else matters.”

Feb 23, 2017|Wicked Local Weymouth

Patient protection must remain a priority

The Center for a Responsible Federal Budget and the Congressional Budget Office estimate that total ACA repeal would eliminate coverage for as many as 23-24 million non-elderly people by 2026 and could reduce benefits for the 57 million people covered by Medicare and Medicare supplemental insurance programs. Those losing insurance would return to using costly hospital emergency rooms as the health care resource of last resort.

Feb 23, 2017|Center for American Progress

Why the Emerging Bill to Repeal the Affordable Care Act Will Fail

The Committee for a Responsible Federal Budget updated the CBO estimate for the 2017–2026 budget window. If Congress passed a similar bill now, it would save $600 billion from 2017 to 2026 using dynamic scoring. This $600 billion is the amount of savings that would be available to spend on subsidies to replace the ACA’s coverage expansion.

Feb 23, 2017|The Business Times (Singapore)

Trump to unveil first budget 'mid-March'

Mr Trump's promises - from building a wall on the Mexican border to deporting undocumented immigrants - carry an estimated price tag of US$5.3 trillion, according to the non-partisan Committee for a Responsible Federal Budget.

Feb 23, 2017|R Street Institute

Should we have a long-term budget for entitlements?

Stuart Butler of the Brookings Institution and Maya MacGuineas of Committee for a Responsible Federal Budget suggest a long-term budget for entitlements. Doing this, they posit, would establish an “orderly pathway for helping to resolve inherent tensions” in current budgeting. Additionally, a long-term entitlement budget would “encourage Congress to make clear choices about long-term spending.” Presently, the auto-pilot growth of entitlements is crowding out spending on other priorities and fueling bruising budget fights.

Feb 22, 2017|Inside Health Policy

Committee For Responsible Federal Budget: Don’t Repeal Caddy Tax Without Replacement

The Committee for a Responsible Federal Budget (CFRB) said Wednesday (Feb. 22) that Congress shouldn't repeal the highly unpopular 40 percent tax on high-cost health plans without a replacement, and suggests instead capping the unlimited tax exclusion for employer benefits, which Congress is considering.

Feb 21, 2017|The Lombardi Letter

How Much Is the U.S. National Debt?

This is on top of the non-partisan Congressional Budget Office’s (CBO) own forecasts of surging debt ahead. Before any reduction of taxes takes place, the CBO predicts that trillion-dollar deficits will return by 2023, the public portion of the debt will rise from $14.2 trillion to $24.9 trillion by 2026, and post-WWII debt will hit records by 2035. (Source: “CBO’s January 2017 Budget and Economic Outlook,” Committee for a Responsible Federal Budget, January 24, 2017.)

Feb 21, 2017|Wisconsin.com

3 Ways to Preserve Social Security Without Tax Increases

Workers to calculate its annual adjustments. But some believe that an alternative measure of information called chained CPI would be a more accurate way to measure changes in the actual cost of living. Using chained CPI would close about a fifth of the current funding gap that Social Security faces, according to figures from the nonpartisan Committee for a Responsible Federal Budget.

Feb 19, 2017|Salon

Beyond fact-checking: After the catastrophic media failure of 2016, the press must master “crucial evidence”

The data is unequivocal on tax cuts not paying for themselves fully, and you can see it in many analyses such as this one from the Committee for a Responsible Federal Budget. Tax cuts can increase growth somewhat in the short term, but in the U.S. they have never created enough growth to make up for the lost revenue by increased tax receipts.

Feb 18, 2017|The Guardian

Insurance companies take the lead on Obamacare replacement ideas

“Their advertised objective here is to stabilize the market,” said Marc Goldwein, vice-president of policy at the Committee for a Responsible Federal Budget. “One way to keep insurance companies selling insurance is to give them some of the things they’re asking for.

“Whether those are things that hurt the consumer, or benefit the consumer, or are neutral to the consumer, will depend,” said Goldwein.

Feb 18, 2017|The Economist

Sovereign-bond issuers shrug off downgrades

The rise of populism means that governments are even less likely to worry about an adverse reaction in the bond markets. Donald Trump has promised a combination of tax cuts, infrastructure spending and the safeguarding of entitlements such as Social Security and Medicare. These plans have to pass Congress, but the Committee for a Responsible Federal Budget, a lobby group, estimated that they would push American debt to 105% of GDP (from 77%) in a decade.

Feb 16, 2017|Medscape

ACA Changes May Put Millions With Mental Illness at Risk

"It's difficult for a Republican president to tell Republican governors that money from Medicaid expansion is going to be cut off," said Antos at a January forum sponsored by the Kaiser Family Foundation and Committee for a Responsible Federal Budget.

Feb 16, 2017|CityWire

How to play the robotic revolution and survive the 'robocalypse'

Schenker pointed to recent data from the Committee for a Responsible Federal Budget that said in a relatively low interest rate environment by 2030 18.1% of the government budget will be equal to only the debt on entitlements.

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