Reports by Matt Fiedler
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Results by year: 2008 | 2007 | 2006
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Historical Averages Not a Meaningful Benchmark for Future Revenues
August 22, 2007
The “Mid-Session Review” that the Office of Management and Budget issued last month projects that revenues will be slightly above their 30-year average in 2007, measured as a share of the economy. The Administration and many of its supporters have cited this fact as evidence that current tax policies are generating an … -
The Congressional Budget Plan
Revised May 29, 2007
On May 16, House and Senate negotiators reached agreement on a Congressional budget plan for fiscal year 2008 (S Con Res 21). Both the House and the Senate passed the conference report (S Rpt 110-153) the next day, and the report has now gone into effect as the approved fiscal year 2008 budget plan. This paper provides a brief overview of the conference … -
President's Budget Calls for Deep Cuts in a Wide Range of Domestic Programs
Revised March 28, 2007
Under the Administration’s budget, domestic discretionary programs — the programs that are funded each year through the annual appropriations process, other than defense and international programs — are slated for sizable reductions over the next five years. The budget calls for these cuts to start in 2008, when domestic discretionary programs as a whole would be funded … -
How Should Policymakers Treat The Budget For Non-Defense "Discretionary" Programs?
March 13, 2007
As Congress prepares a budget resolution that will (among other things) set funding limits for discretionary programs for fiscal year 2008, it is appropriate to examine funding trends for these programs in the context of the nation’s overall budgetary situation. Discretionary programs include defense and homeland security spending, international affairs programs, and domestic programs … -
The Long-Term Fiscal Outlook Is Bleak
January 29, 2007
In 2006, the federal government ran a deficit of $248 billion, or about 2 percent of the economy. Deficits are projected to average about 2 percent of GDP over the next ten years, assuming the 2001 and 2003 tax cuts are extended. After that, the fiscal situation is expected to deteriorate markedly. In this analysis, we present new projections for the …
