Budget — Federal Archive
Results per page: 50 | 100
Results by year: 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 - 1990
-
Video: CNBC Interviews Jim Horney on the Economy and the Federal Budget Deficit
November 12, 2009
CNBC interviews Jim Horney on the Economy and the Federal Budget Deficit
Duration: 6:02
-
Washington Times Op-Ed: Robert Greenstein on the Deficit — Don't Make Things Worse
October 27, 2009
We recently updated our long-term projections of federal spending, revenues and deficits, and they confirm what budget experts both inside and outside the government have concluded: The nation is on an unsustainable fiscal course, facing unprecedented deficits that, if left unaddressed, will seriously weaken our economy.
-
Video Highlights from the Conference “Progressives and the National Debt: Consequences and Solutions”
October 8, 2009
Click here to view the conference videos. -
CBPP’s Updated Long-Term Fiscal Deficit and Debt Projections
September 30, 2009
For a number of years, the Center on Budget and Policy Priorities (CBPP) has projected the long-term path of federal spending, revenues, deficits, and debt if current policies remain unchanged. These projections have shown that deficits and debt will grow in coming decades to unprecedented levels that will not only … -
Correcting Five Myths About the Stimulus Bill
Updated September 23, 2009
Some critics of the economic recovery law (or “stimulus” bill) that President Obama and Congress enacted early this year continue to mischaracterize how it was supposed to work and what it was supposed to do. For instance, some critics complain that, because unemployment has risen in recent months, the law is not working. Others claim … -
Podcast: The Deficit, Debt, and Interest
September 22, 2009
In this podcast, the federal government deficit, debt, and interest is explained by Director of Federal Fiscal Policy, Jim Horney.
Duration: 5:45
-
Podcast: The Budget Reconciliation Process
September 15, 2009
The budget reconciliation process in Congress is explained by Director of Federal Fiscal Policy, Jim Horney.
Duration: 4:43
-
New OMB and CBO Reports Show Continuing Current Policies Would Produce Large Deficits
August 27, 2009
On August 25, both the Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) released updated budget projections. Some observers, comparing OMB’s estimate of the deficit over the next ten years under the President’s proposed policies ($9.1 trillion) to CBO’s “baseline” estimate of the deficit under … -
Podcast: Understanding the New Budget Deficit Updates
August 27, 2009
The new budget deficit updates from CBO and OMB are explained by the Center’s Director of Federal Fiscal Policy, Jim Horney.
Duration: 3:28
-
Statement: James R. Horney, Director of Federal Fiscal Policy, on the Deficit Reports by the Office of Management and Budget and the Congressional Budget Office
August 25, 2009
Today’s budget reports provide no evidence that federal budget policies over the last year have failed or that a drastic new direction in short-term fiscal policy is needed. While they also provide little new information about the nation’s longer-run budget path, the reports … -
Video: James Horney Discusses New CBO and OMB Deficit Projections on Bloomberg TV
August 25, 2009
-
Video: James Horney Discusses 2009 Deficits and 10-Year Deficit Projections on C-SPAN's Washington Journal
August 24, 2009
Duration: 30:55
-
Five Keys to Understanding New 2009 Deficit Estimates
August 21, 2009
Next week, the President’s Office of Management and Budget (OMB) and the Congressional Budget Office (CBO) will update their economic and budget projections for fiscal year 2009, which ends on September 30, and the next ten fiscal years.[1] Some analysts and pundits will try to use the new projections to support their arguments … -
Ryan Substitute for Statutory Pay-As-You-Go
July 22, 2009
The House of Representatives is today considering legislation (H.R. 2920, as amended by a substitute proposed by Majority Leader Steny Hoyer) that would reinstate a statutory Pay-As-You-Go rule similar to the rule that helped produce the first federal budget surpluses in decades in fiscal years 1998 through 2001. Under the … -
Podcast: Robert Greenstein Testifies Before the House Budget Committee on PAYGO Legislation
June 26, 2009
Robert Greenstein testified June 26th on why..."pay-as-you-go discipline is important, why enactment of a statutory pay-as-you-go rule to reinforce Congressional rules can be beneficial, and why enactment of a statutory pay-as-you-go rule is not itself sufficient to achieve fiscal sustainability."
Duration: 7:11
-
Testimony: Robert Greenstein on the “Pay As You Go” Budget Rule
Updated June 25, 2009
Mr. Chairman, Congressman Ryan, and members of the Committee, I appreciate the opportunity to appear here today to explain why I think pay-as-you-go discipline is important, why enactment of a statutory pay-as-you-go rule to reinforce Congressional rules can be beneficial, and why enactment of a statutory pay-as-you-go rule is … -
Joint Statement: Robert Greenstein and James Horney on the President’s “Pay As You Go” Budget Proposal
June 10, 2009
President Obama’s proposal to require policymakers to fully pay for all new entitlement increases and tax cuts, rather than deficit-finance them, is an important first step to restore fiscal responsibility. Critics charge that the pay-as-you-go, or PAYGO, proposal is riddled with … -
Video: Robert Greenstein Discusses the President's Budget on Washington Journal
May 8, 2009
-
A Brief Analysis of the Congressional Budget Plan
May 4, 2009
The budget resolution Congress adopted last week for fiscal year 2010[1] largely reflects the proposals in the preliminary budget President Obama submitted to Congress in February. Under the budget resolution: Deficits will be very high by historical standards in the next several years … -
Huffington Post Op-Ed: Senate to Uber-Rich: “Help Is on the Way”
April 13, 2009
"...Is this the time to spend about $90 billion over the next decade to give the nation's wealthiest households a new, multi-million-dollar tax cut? The U.S. Senate apparently thinks so." Read more -
Policy Basics: Where Do Our Federal Tax Dollars Go?
Updated April 13, 2009
The federal government collects taxes in order to finance various public services. As policymakers weigh key decisions about revenues and expenditures, it is instructive to examine the recent usage of federal tax dollars. In fiscal year 2008, the federal … -
Lincoln-Kyl Estate Tax Amendment is Both Unnecessary and Unaffordable
Revised April 10, 2009
On April 2 the Senate narrowly adopted (by a 51-48 vote) an amendment to the budget resolution by Senators Blanche Lincoln and Jon Kyl that would substantially weaken the estate tax. This proposal is both fiscally irresponsible — it would pave the way for a significant increase in … -
Policy Points: Congressional Budgets Pass Early Tests on Deficits and Economy, but Questions Remain
April 3, 2009
On the whole, the budget plans that the House and Senate approved yesterday pass the twin tests of: (1) beginning to address long-term deficits, or at least not making these deficits worse; and (2) not undermining the fiscal stimulus Congress recently passed. [i] The … -
House Republican Budget Would Aid Wealthy Individuals and Corporations, Cut Public Services, Slow Economic Recovery
April 2, 2009
The House Republican budget, introduced April 1 by Rep. Paul Ryan (R-WI), calls for a massive transfer of resources from the broad majority of Americans to the nation’s wealthiest individuals and corporations.[1] It provides the richest households with a new round of very costly tax reductions by extending the Bush high-income tax cuts and adding another set of tax cuts that … -
An Analysis of the House and Senate Budget Plans
April 1, 2009
The congressional budget resolutions that the House and Senate are considering this week are essentially consistent with the budget blueprint that President Obama submitted to the Congress in February.[1] The President’s budget and the House and Senate plans (which their … -
Scoring Health Legislation
April 1, 2009
The National Institute for Health Care Management Foundation has released a new edition of Expert Voices, Scoring Health Legislation by Paul N. Van de Water, PhD, Senior Fellow, Center on Budget and Policy Priorities. The fate of legislative proposals in the U.S. Congress often hinges on how much they are estimated to increase or decrease the federal budget deficit. Currently, the Congressional Budget Office … -
Obama Budget Reduces Deficit by $900 Billion Compared to Current Budget Policies
March 31, 2009
Contrary to some claims, President Obama’s 2010 budget would reduce federal deficits by about $900 billion over the next ten years compared to current budget policies. The $900 billion is the difference between deficits over the next decade under the President’s budget, as estimated by the Congressional Budget Office (CBO), and projected deficits … -
Proposal to Cap Deductions for High-Income Households Would Reduce Charitable Contributions by Only 1.9 Percent
Revised March 31, 2009
The President’s 2010 budget proposes to limit the tax subsidy for deductible expenses of the most affluent Americans and to use the additional revenue to help finance national health reform, including universal coverage. This proposal has been attacked on the grounds that it would lead to substantial reductions in charitable contributions and hit … -
Two Key Tests for House and Senate Action on Congressional Budget Resolution
March 31, 2009
As Congress prepares a budget resolution for fiscal year 2010, it should apply two key tests to any proposed change in the plans approved by the House and Senate Budget Committees: Would the proposal support economic recovery in the near term? Would … -
High-Income Households Would Face Lower Tax Burden under Obama Budget than In Clinton Years, When Economy Performed Well
March 26, 2009
Despite claims that President Obama would impose a massive, damaging tax increase on wealthy Americans, the top 1 percent of Americans would actually pay a slightly smaller share of their income in federal taxes under the President’s proposals than during the Clinton Administration, when the economy grew strongly. Specifically, the top … -
History Contradicts Claim That President’s Budget Would Harm Small Business Job Creation
March 26, 2009
Critics have claimed that President Obama’s proposal to roll back tax cuts for families with incomes above $250,000 would kill job growth in the small business sector. But under the Clinton Administration, when the tax treatment of high-income families was very similar to what President Obama has proposed, small businesses … -
Testimony: Robert Greenstein on Tax Proposals in the President's Budget before the Senate Committee on Finance
March 26, 2009
I appreciate the invitation to appear before the Committee today. I am Robert Greenstein, Executive Director of the Center on Budget and Policy Priorities, a policy institute that focuses on fiscal policy issues and issues affecting low- and moderate-income families. This testimony makes the following points: As the Congressional … -
Statement of Robert Greenstein, Executive Director, on the New Report From the Congressional Budget Office
March 20, 2009
Today’s disturbing report from the Congressional Budget Office projects larger budget deficits over the next ten years than the President’s budget estimates, mainly because the economy is weaker than the Obama Administration and many private forecasters projected just a few months ago. These … -
Policy Basics: Deficits, Debt, and Interest
March 19, 2009
Three important terms regarding the federal budget — deficits, debt, and interest — are often misunderstood. For any given year, the federal budget deficit is the amount of money the federal government spends (also known as outlays) minus the amount of money it takes in (also known … -
Limiting Itemized Deductions for Upper-Income Taxpayers Would Have Little Effect on Small Business, Charities, Housing
March 12, 2009
Despite persistent claims to the contrary, the President’s proposal to cap the value of itemized deductions at 28 percent would have only small effects on small business, charitable giving, and homeownership. That’s because the proposal, which would save $318 billion over the next ten years to help finance health care reform, would affect only those tax … -
Policy Basics: Congress's “Pay-As-You-Go” Budget Rule
March 5, 2009
The pay-as-you-go rule, also known as PAYGO, is designed to encourage Congress to offset the cost of any legislation that increases spending on entitlement programs or reduces revenues so it doesn’t expand the deficit. Under PAYGO, Congress must pay for such legislation by reducing other entitlement spending or increasing other revenues. … -
Cap and Trade Can Fight Global Warming Effectively While Also Protecting Consumers
March 3, 2009
Some critics of President Obama’s budget have argued that the proposal to place a cap on greenhouse gas emissions to combat global warming represents a tax increase for virtually all Americans. That claim is misleading because it focuses on just one aspect of the Administration’s cap-and-trade proposal. It ignores … -
Very Few Small Business Owners Would Face Tax Increases Under President's Budget
February 28, 2009
Some critics of the President’s budget charge that his proposals to roll back tax breaks for taxpayers with incomes over $250,000 would harm small businesses. In fact, only 8.9 percent of people with any small business income have incomes of over $250,000 and, thus, would even potentially be affected by these provisions. (See … -
Podcast: Examining the Administration's 2010 Budget
February 27, 2009
This podcast discusses the President’s budget outline for fiscal year 2010.
Robert Greenstein discusses the priorities in the budget, as well as specific initiatives in major areas such as health care, taxes, and climate change. They also examine the budget’s implications for the federal deficit and debt and fiscal responsibility, and evaluate whether the budget’s numbers are honest or rely on gimmicks.
Duration: 20:54
-
Statement by Robert Greenstein, Executive Director, on the President's 2010 Budget Proposal
February 27, 2009
The President’s budget represents a bold and courageous proposal to make progress in restoring fiscal discipline while addressing two central problems of our time — a broken health care system and the threat of catastrophic global warming — and other national needs. … -
Economic Recovery Package Would Give 3.8 Million Low- and Moderate-Income Students — Thousands in Every State —Access to Higher-Education Tax Credit
Revised February 26, 2009
The “Hope Credit,” which provides a tax subsidy for college tuition costs, was established in 1997. Its goal, in part, was to enable students who could not otherwise afford to attend college to do so. Yet until now, 3.8 million prospective college students — more than a fifth of all high-school-age children nationwide … -
Trillion-Dollar Deficits Greet New Administration: CBO Analyzes Current Budget Policies
February 26, 2009
The Congressional Budget Office (CBO) has recently issued three scenarios that offer alternative views of the current budgetary situation.[1] Assuming continuation of the budget policies that were in effect in January 2009, CBO’s analysis shows that the federal budget deficit would average more than $1 trillion a year over the next ten years and climb higher in the … -
Video: Greenstein Debates the Budget Plan on the Newshour with Jim Lehrer
February 26, 2009
-
New Analysis Shows "Tax Expenditures" Overall Are Costly and Regressive
February 23, 2009
“Tax expenditures” for individuals totaled about $760.5 billion in 2007, topping what the federal government spent on either national defense or all non-defense discretionary programs, a new analysis by the Urban Institute-Brookings Institution Tax Policy Center (TPC) shows.[1] In most cases, these tax expenditures are also regressive — that is, they benefit … -
Video: Statement by Robert Greenstein, Executive Director, at President Obama's Fiscal Responsibility Summit
February 23, 2009
Mr. President, Mr. Vice President, distinguished guests — I am honored to be here. I have a lot to cover in just a few minutes with your indulgence, so I’ll get right to it. The Center on Budget and Policy Priorities recently analyzed the fiscal outlook through mid-century, and our results are similar … -
Podcast: Key Differences in the House and Senate Stimulus Plans
February 10, 2009
This podcast featuring Robert Greenstein and Len Burman (Co-director, Urban Institute-Brookings Institution Tax Policy Center and Senior Fellow, Urban Institute) discusses the key differences between the House and Senate economic recovery packages in both the tax and spending areas and address how Congress should resolve them.
Duration: 25:23
-
Podcast: Reality Check on the Stimulus Debate
February 5, 2009
This podcast featuring Robert Greenstein discusses whether stimulus proposals being offered in the Senate this week would make the overall recovery package more or less effective in boosting the economy. He also addresses a number of misconceptions circulating around the House and Senate recovery packages.
Duration: 16:50
-
Economic Recovery Bill Would Add Little to Long-Run Fiscal Problem
January 16, 2009
The $825 billion economic recovery package offered by congressional leaders will have only a very small impact on the nation’s long-term fiscal problem, adding just 3 percent to the budget shortfall through 2050. While the package aims to put millions of unemployed Americans back to work, some question whether the nation can afford to add such a large amount … -
Policy Basics: Introduction to the Federal Budget Process
Updated December 17, 2008
The way Congress develops tax and spending legislation is guided by a set of specific procedures laid out in the Congressional Budget Act of 1974. The centerpiece of the Budget Act is the requirement that Congress each year develop a “budget resolution” setting aggregate limits on spending and targets for … -
The Long-Term Fiscal Outlook Is Bleak
December 16, 2008
This report updates the Center on Budget and Policy Priorities’ projections of federal spending, revenues, deficits, and debt through 2050. These projections — like the projections the Center issued in January 2007 and the projections by other institutions such as the Congressional Budget Office (CBO), Government Accountability … -
Podcast: Long Term Deficit Projections Highlight Need for Action
December 16, 2008
This podcast discusses a report that provides updated long-term federal budget projections. The report describes the factors driving the big increases in deficits and debt projected for the next several decades, such as rapidly rising health care costs and revenues that are inadequate to cover even current expenditures. This podcast features the Center's Executive Director Robert … -
Press Release: New Long-Term Deficit Projections Paint Grim Picture
December 16, 2008
The nation faces a grim long-term budget outlook even after the economy recovers from the current recession, with the prospect of skyrocketing deficits and debt in the coming decades that will far eclipse all previous levels, the Center on Budget and Policy Priorities reported today. Driving this grim outlook are at least three factors: (1) … -
How Projected Surpluses Became Deficits
September 12, 2008
The federal budget is projected to run a $546 billion deficit in 2009, compared with the $710 billion surplus that budget experts projected for 2009 back when President Bush took office nearly eight years ago. This $1.3 trillion deterioration in the nation’s fiscal finances for 2009 can be seen by comparing estimates that the … -
A Balanced Approach to Restoring Fiscal Responsibility
July 9, 2008
In a recent paper, “Taking Back Our Fiscal Future,” a group of policy analysts from several Washington think tanks proposed a radical change in budget procedures related to Social Security, Medicare, and Medicaid as a way to address budget deficits projected for future decades. They urged Congress to establish 30-year budgets, or caps, for these programs. The White House would conduct a review every five years. If it projected that expenditures would exceed the caps, the programs would face automatic cuts or related tax increases.
-
Testimony of James Horney on Addressing the Nation's Financial Challenges
June 26, 2008
Chairman Carper, Senator Coburn, Members of the Committee, thank you for the opportunity to appear here today to talk about the long-term fiscal problems facing the United States. My name is James Horney. I am the Director of Federal Fiscal Policy at the Center on Budget and Policy Priorities, which is a non-partisan, non-profit … -
Testimony of Robert Greenstein at the Hearing on the SAFE Commission Act and the Long-Term Fiscal Challenge
June 24, 2008
Mr. Chairman and Mr. Ryan, thank you for inviting me to testify today. My testimony will focus primarily on the general question of whether a “budget commission” would be useful at this point as a way to address the serious long-term fiscal problems the nation faces. I would like to make three principal observations. First, the … -
Policy Points: "Tax Extenders" Bill the Latest Test of Congress's Commitment to Fiscal Discipline
June 10, 2008
“Tax extenders” legislation now before the Senate has become the latest battleground in the intensifying debate over whether Congress should abide by its “pay-as-you-go” (PAYGO) rules and pay for new tax and budget measures so they don’t expand the deficit. Opposition to abiding by PAYGO is also impeding congressional action to extend Alternative Minimum Tax relief … -
The Congressional Budget Plan
May 22, 2008
On May 20, House and Senate negotiators reached agreement on a congressional budget plan for fiscal year 2009 (S.Con.Res. 70), which the House and Senate plan to vote on by the end of this week. This paper provides a brief analysis of the plan and how it compares with the budget President Bush submitted earlier this year. Current … -
Statement by Robert Greenstein, on Misleading Claims That Congressional Budget Plan Calls For "Largest Tax Increase In History"
May 20, 2008
Some claim that the budget plan of the conferees — which the House and Senate are scheduled to consider this week — would constitute “the largest tax increase in history.” This claim is inaccurate, just as the same claim was inaccurate with regard to the budget … -
Federal Spending, 2001-2008: Defense Is a Rapidly Growing Share of the Budget, While Domestic Appropriations Have Shrunk
Revised March 6, 2008
Both last year and this year, President Bush called for large funding increases for defense and related programs while demanding considerable restraint in domestic appropriations. And this year, like last year, he has threatened to veto appropriations bills if Congress does not adhere to his tight domestic levels. Some may think … -
Fact-Checking the Budget Resolution Debate
Revised March 13, 2008
In the ongoing debates over the House and Senate budget resolutions, some members of Congress have made questionable or inaccurate statements regarding various issues. This brief factsheet, which will be updated as needed throughout the debates, corrects the record regarding some of the most egregious examples. 1. “Eighteen million seniors will see their … -
Bush Budget Would Cut Domestic Discretionary Programs by $20 Billion In 2009
February 20, 2008
The President’s 2009 budget would provide some $20.5 billion [1] less for domestic discretionary programs outside of homeland security — a broad category of programs that includes everything from child care to environmental protection to medical research — than the 2008 level, adjusted for inflation.[2] The … -
Testimony of Robert Greenstein on the Long- and Short-Term Budget Outlook
February 13, 2008
I am Robert Greenstein, executive director of the Center on Budget and Policy Priorities. The Center is an independent, nonprofit policy institute that conducts research and analysis on a range of federal and state policy issues, with particular emphasis on fiscal policies and policies … -
The Dubious Priorities of the President's FY 2009 Budget
Revised February 7, 2008
The President’s budget would provide more tax cuts heavily skewed to the most well-off while cutting vital services for low- and moderate-income Americans, generating large deficits, and increasing the strain on states already confronting budget problems as a result of the economic downturn. The budget … -
2008 Omnibus Appropriations Bill Cuts Funding for Head Start
Revised February 6, 2008
This year, as in 2007, Congress and the President are likely to have a contentious debate about the appropriate level of overall funding for “appropriated” programs — the programs funded through the annual appropriations process, including most education, environmental, veterans, defense, and transportation … -
Statement by Robert Greenstein: Reported Stimulus Package Would Provide Little Immediate Boost Due to Removal of Most Effective Provisions
January 24, 2008
Changes reportedly made last night in the stimulus package would reduce its effectiveness as stimulus. Although the package includes a reasonably designed tax rebate, the two most targeted and economically effective measures under consideration — a temporary extension of unemployment benefits and a temporary boost in food stamp … -
Policy Points: Many Missed Opportunities for Congress and the President in 2007
Revised December 21, 2007
Over recent months, federal policymakers considered measures to expand children’s health coverage, strengthen Medicare, make new investments in areas like education and medical research, and extend tax relief — while maintaining fiscal discipline. Congress and the President … -
Statement by Robert Greenstein on the Congressional Budget Office’s New Long-Term Budget Forecast
December 13, 2007
The new Congressional Budget Office report shows that rising health care costs are the largest driver of the nation’s long-term budget problems. But CBO’s projections also indicate that the costs of making expiring tax cuts — such as those enacted in 2001 and 2003 … -
A Tale of Two Bills: The Labor-HHS-Education and Defense Appropriations Bills
Revised November 16, 2007
President Bush has said he will veto the appropriations bill that funds the Departments of Labor, Health and Human Services, and Education for the coming fiscal year, while he plans to sign the bill funding the Department of Defense. The Administration says the funding Congress provides in the Labor-HHS-Education bill is … -
Labor-HHS-Education Bill – What’s at Stake
Revised November 16, 2007
Congress is poised to send the President a bill that provides funding for a broad array of domestic discretionary programs — that is, non-entitlement programs whose funding is provided each year through the annual appropriations process. The Senate on November 7 approved a bill (H.R. 3043) that includes funding for programs … -
The President’s Misleading Attack on Congress’s Appropriations Plan
November 14, 2007
In vetoing the appropriations bill funding the Departments of Labor, Health and Human Services, and Education, the President charged yesterday that Congress plans an irresponsible increase of $205 billion over the next five years in domestic discretionary spending (spending on domestic programs funded through the appropriations process) over the … -
Statement: Robert Greenstein on the President's Veto of the Labor-HHS-Education Appropriations Bill
November 13, 2007
We find it stunning for the President to reject a $5 billion increase for education, medical research and other priorities as unaffordable, while insisting that Congress finance the $51 billion cost of AMT relief through higher deficits instead of by closing tax loopholes exploited by multi-millionaires. The President’s action … -
House AMT "Patch" Bill is Fiscally Responsible
November 7, 2007
Later this week, the House of Representatives is expected to vote on legislation that would “patch” the Alternative Minimum Tax for 2007 (H.R. 3996). This analysis highlights three praiseworthy features of the tax package, which was adopted by the Ways and Means Committee November 1. The cost of the package is fully offset. Its adoption by the … -
The House Has Complied This Year With Its New “Pay-As-You-Go” Rule: But Greater Challenges Lie Ahead
November 7, 2007
In early January, the House of Representatives established a Pay-As-You-Go rule. The rule prohibits the House from considering any tax or entitlement legislation that would increase projected deficits over the coming ten-year period. Proposed entitlement increases must be fully offset, or “paid for,” by reductions in … -
What Would It Say about Congress’s Priorities to Waive PAYGO for the AMT Patch?
November 7, 2007
In January the House of Representatives reinstated “Pay-As-You-Go” (PAYGO) budgeting rules, and in May the Senate followed suit. PAYGO requires Congress to offset the cost of any legislation that increases entitlement spending or reduces revenues. As a CBPP analysis released today explains, Congress to date has complied with the PAYGO rules.[1] Both houses of … -
Press Release: Joint Statement on the Need for Pay-As-You-Go Discipline
October 30, 2007
Issued Jointly With The four organizations joining in this statement have come together on a number of occasions in the past to express their concern about the threat that chronic deficits pose, and their support for Pay-As-You-Go rules (PAYGO) to help prevent the deficit situation from becoming worse. (See, for example, the statement of March 21, 2007 … -
The Labor – H.H.S. – Education Veto in Context
October 24, 2007
President Bush has said he will veto the appropriations bill that funds the Departments of Labor, Health and Human Services, and Education for the coming fiscal year if Congress sends the bill to him with funding at the level either the House or Senate has approved.[i] The Administration says the funding provided in the House- and … -
President’s Attack on Congressional Appropriations Plan is Misleading
September 24, 2007
In the escalating battle over the domestic appropriations bills for fiscal year 2008, the President and senior Administration officials have charged that congressional Democrats plan an irresponsible increase of $205 billion over the next five years in discretionary spending (i.e., spending on programs funded through the appropriations process). Yet this claim — which the President repeated in … -
House SCHIP Legislation Would Repeal Dubious “45-Percent Threshold” Provision
July 30, 2007
Legislation to extend the State Children’s Health Insurance Program and make various changes in Medicare, which the House is scheduled to consider this week, would repeal a so-called “45-Percent Threshold” provision affecting Medicare that was slipped into the 2003 Medicare prescription drug bill. Some lawmakers argue … -
Testimony: Robert Greenstein on Pay-As-You-Go Discipline Before the House Budget Committee
July 25, 2007
Chairman Spratt, Congressman Ryan, and members of the Committee, I appreciate the opportunity to appear hear today to explain why I think the pay-as-you-go discipline is important and appropriate, and why establishing a statutory pay-as-you-go rule to reinforce Congressional rules is a sound idea. My testimony will cover the following: … -
The 2008 Labor-HHS-Education Appropriations Bill
July 18, 2007
The Bush Administration has threatened to veto almost all appropriations bills that provide more funding than the President has requested, such as the bill funding the Departments of Labor, Health and Human Services, and Education for fiscal year 2008, which starts October 1. The President has described congressional appropriations plans as … -
Statement by James Horney, Director of Federal Fiscal Policy, Center on Budget and Policy Priorities, on OMB’s Mid-Session Review
Revised July 13, 2007
Today’s increase in estimated federal revenues for the current year, which the Administration says shows its tax cuts are boosting economic growth, isn’t surprising and doesn’t really say anything about the effects of the tax cuts on the economy. Large mid-year increases in … -
The Fight Over Appropriations: Myths and Reality
June 21, 2007
The House and Senate appropriations committees recently established funding levels for each of the 12 appropriations bills for fiscal year 2008, and have begun producing bills that meet these targets.[1] The Administration has charged that these funding levels represent large, fiscally irresponsible increases in federal spending that would threaten fiscal stability and the economy. It has … -
CBO Estimate Shows the Senate Immigration Bill's Budget Impact Is Very Modest
Revised June 6, 2007
Yesterday the Congressional Budget Office issued an analysis that clearly refutes claims that the immigration bill being considered by the Senate would “bust the budget” and that indicates the bill would likely have little effect on deficits. CBO’s cost estimate of the legislation concludes that “the net impact on the unified … -
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 … -
Discretionary Funding Under the New Congressional Budget Plan
May 16, 2007
On May 11, the Director of the Office of Management and Budget sent a letter to Congress on behalf of the Bush Administration, threatening to veto any 2008 appropriations legislation that exceeds the levels requested by President Bush. As apparent justification for the threat, the OMB letter charged that the congressional budget plans approved by the Senate … -
Forthcoming Medicare Trustees’ Report May Contain Dubious "Medicare Funding Warning"
April 20, 2007
While Medicare faces a serious long-term financing problem that must be addressed, the annual report of the Social Security and Medicare trustees to be released on April 23 may contain a dubious “Medicare Funding Warning” that is based on a deeply misleading measure of the program’s health. Under a last-minute provision slipped … -
Ryan Budget Plan Would Increase Deficits, Exacerbate Inequality
March 29, 2007
When the House of Representatives debates the congressional budget plan for fiscal year 2008, Rep. Paul Ryan, the Ranking Republican Member of the House Budget Committee, will offer a substitute for the budget plan that the Budget Committee approved on March 23, 2007.[1] This analysis focuses on four aspects of the Ryan substitute. The tax and entitlement policies in the substitute … -
Despite the Rhetoric, Budget Would Make Nation’s Fiscal Problems Worse and Further Widen Inequality
Revised March 28, 2007
The President says he wants to promote fiscal responsibility and address growing inequality, but his budget fails on both counts. In fact, it would make both problems worse. In a sign of the President’s misguided priorities, his budget puts extremely large tax cuts for the most affluent Americans ahead of the needs of low- and middle-income … -
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 … -
The Alternative Minimum Tax, The President's Budget, and the Congressional Budget Resolutions
March 28, 2007
This week, the House of Representatives will consider the budget resolution that the House Budget Committee approved March 22. The House Budget Committee plan adheres to the Pay-As-You-Go (PAYGO) budget rules that have been in force in the House since January. These rules require that the cost of any legislation that increases entitlement spending or reduces revenue be offset. … -
Key Argument Against Applying Pay-As-You-Go To Tax Cuts Does Not Withstand Scrutiny
March 22, 2007
In early January the House of Representatives instituted a “pay-as-you-go” rule, under which entitlement expansions and tax cuts — including the extension of expiring provisions of law that expand entitlement programs or cut taxes — must be paid for through offsetting entitlement reductions or tax increases. (PAYGO rules do not … -
The House Budget Committee's Budget Plan
Revised March 22, 2007
The House Budget Committee voted early this morning along party lines to approve a budget plan that the full House is scheduled to consider next week. This budget, which is very similar to the one approved by the Senate Budget Committee last week, marks an important first step in restoring fiscal responsibility in Congressional budgeting. [1] Restoring … -
Joint Statement on the Need for Pay-As-You-Go Discipline
March 21, 2007
Co-Authors Morgan Broman 202-296-5860 morgan.broman@ced.org Tristan Cohen 703-894-6222 communications@concord.org Jerry Irvine 202-986-2700 irvine@newamerica.net The four organizations joining in this statement have warned that large, chronic budget … -
Economic Effects of the Pay-As-You-Go Rule
March 19, 2007
The budget resolution approved March 15 by the Senate Budget Committee would reinstate in the Senate the Pay-As-You-Go budget rule that was in force during the 1990s. (The House of Representatives reintroduced the PAYGO rule several months ago.) PAYGO requires that the costs of any legislation that increases entitlement spending or decreases revenues be offset. Thus, if adhered … -
The Senate Budget Committee's Budget Plan
Revised March 19, 2007
The Senate is scheduled during the week of March 19 to consider a budget plan that the Senate Budget Committee adopted March 15 on a party-line vote. This budget marks an important first step in restoring fiscal responsibility in Congressional budgeting. Restoring Pay-As-You-Go The budget plan — known as a budget resolution — is notable for … -
Statement By Jim Horney and Robert Greenstein on the Senate Budget Committee Plan
March 14, 2007
The budget plan being unveiled today by Senate Budget Committee Chairman Kent Conrad represents a fundamental and important change in budget policy. In contrast to budgets of recent years that simply assumed that new entitlement spending and tax cuts would be financed by additional borrowing, … -
Administration Proposal Would Cut Over 300,000 People Off Food Stamps
Revised March 13, 2007
The President’s budget includes a provision that would cut the Food Stamp Program by $740 million over the next five years (and by $1.65 billion over ten years) by taking more than 300,000 low-income people off the program in an average month.[1] The Administration would achieve these savings by stripping states of flexibility provided in … -
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 … -
SCHIP Reauthorization: President’s Budget Would Provide Less than Half the Funds that States Need to Maintain SCHIP Enrollment
Revised March 13, 2007
The President’s fiscal year 2008 budget proposes to reauthorize the State Children’s Health Insurance Program (SCHIP) for five years but provides less than half of the funding needed for states to maintain their existing SCHIP caseloads, let alone to make progress in covering more uninsured low-income children. Under the President’s …
