Papers
View our recurring reports, which summarize and analyze the most important regular federal budget releases and reports.
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Break Glass: A Plan for the Next Economic Shock
The U.S. has never experienced an economic shock as indebted as we are today. Recessions and other economic shocks are inevitable. Although the timing...
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Chartbook: The February 2026 CBO Baseline: What It Says (and What It Means)
On February 18, 2026, Chris Towner, policy director of the Committee for a Responsible Federal Budget, gave a presentation on the February 2026...
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CBO’s February 2026 Budget and Economic Outlook
The Congressional Budget Office (CBO) released its February 2026 Budget and Economic Outlook today, updating its January 2025 baseline to account for...
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FY 2027 Budget Resolution Principles
A fiscally responsible budget resolution should abide by the following principles: Set a meaningful fiscal goal with a plan to meet that goal Develop...
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Government Shutdowns Q&A: Everything You Should Know
Fiscal Year (FY) 2026 began with the longest government shutdown in modern history, lasting from October 1, 2025 through November 12, 2025. On...
Statement for the Record on Reverse the Curse: Skyrocketing Health Care Costs and America’s Fiscal Future
The Committee for a Responsible Federal Budget submitted a statement for the record pertaining to the House Budget Committee hearing on "Reverse the...
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It’s (Still) Time for a Bipartisan Fiscal Commission
The U.S. fiscal outlook is currently unsustainable. A new fiscal commission can help policymakers work on a bipartisan basis to identify the necessary...
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What Would a Fiscal Crisis Look Like?
The U.S. national debt is approaching record levels as a share of Gross Domestic Product (GDP) and currently stands at 100% of GDP, while interest...
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Reference Pricing for the FEHB
Health care spending represents about 18% of the nation’s economy and the largest area of federal spending. High and rising health care costs are...
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Fixing Medicare Physician Payments
Medicare pays physicians in traditional fee-for-service through the Physician Fee Schedule (PFS), which sets specific payment amounts for more than 10...
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A Social Security COLA Cap
Social Security is rapidly approaching insolvency. The retirement trust fund is seven years from exhaustion, and the theoretically combined trust...
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An Employer Compensation Tax for Social Security and Medicare
The Social Security retirement and Medicare Hospital Insurance (HI) trust funds are approaching insolvency, with both trust funds expected to be...