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.
Appropriations Watch: FY 2026
Updated 1/9/26: On January 8, the House passed legislation that would provide full-year Commerce, Justice, and Science, Energy and Water Development...
Lawmakers Introduce a Bipartisan Resolution in Support of a 3% Deficit-to-GDP Target
Representatives Bill Huizenga (R-MI) and Scott Peters (D-CA), co-chairs of the Bipartisan Fiscal Forum, joined by Representatives Lloyd Smucker (R-PA)...
WSJ: The Next Class of Senators Won't Be Able to Dodge the Social Security Crunch
In a recent Wall Street Journal article, Richard Rubin highlighted an important fact: the Social Security retirement trust fund is projected to become...
12-Month Rolling Deficit is $1.7 Trillion in Calendar Year 2025
The federal budget deficit totaled $1.7 trillion in Calendar Year (CY) 2025, according to estimates from the Congressional Budget Office (CBO). The...
$1.5 Trillion Military Budget Would Add $5.8 Trillion to Debt Over Decade
In a post on Truth Social, President Trump called for increasing the Fiscal Year (FY) 2027 defense budget to $1.5 trillion, rather than $1 trillion he...
Upcoming Congressional Fiscal Policy Deadlines
Updated 1/6/26: On December 31, 2025, the enhanced Affordable Care Act subsidies included in the American Rescue Plan Act and the Inflation Reduction...
Top 13 Fiscal Charts of 2025
It was an eventful year for fiscal policy in 2025. With large parts of the Tax Cuts and Jobs Act (TCJA) set to expire, lawmakers used the...
Romney Stresses Need for Entitlement Reform, Revenue Increases in NYT
Former Senator Mitt Romney (R-UT), a board member of the Committee for a Responsible Federal Budget, published a guest essay in The New York Times...
New Paper Estimates Upper Limit on Debt
In a new working paper published by the National Bureau of Economic Research, economists Vadim Elenev, Tim Landvoigt, and Stijn Van Nieuwerburgh...
Reflections on the 2025 Ed Lorenzen Fiscal Internship
By: Maddie Brown Shirley I am honored by the opportunity to continue Ed Lorenzen's legacy as this year’s Ed Lorenzen intern. Ed was a pillar in the...
The Case for Funding ACA Cost-Sharing Reductions
The House is scheduled to vote today on the Lower Health Care Premiums for All Americans Act. Among other provisions, the legislation requires the...
ACA Subsidy Extension Tracker
With the Affordable Care Act (ACA) enhanced subsidies set to expire soon, several policymakers have proposed plans to extend the enhancements. You can...