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Zandi Analyses Show "Democratic" Measures in Tax Cut-UI Deal Boost Economy, "Republican" Measures Add to Deficit Risks
December 22, 2010
As a result of the tax cut-unemployment insurance legislation that President Obama signed into law last week, economic forecasters have substantially upgraded their outlook for 2011 (see the box on page 2). An analysis of the compromise by Mark Zandi, the chief economist for Moody’s Analytics, indicates that this greater optimism stems … -
Federal TANF Funding Shrinking While Need Remains High
December 15, 2010
With unemployment high and millions of families in need, for the first time since 1996 when President Clinton and Congress created the Temporary Assistance for Needy Families (TANF) block grant as part of welfare reform, no additional TANF funds are available from the federal government to help states respond to the large … -
Unpacking the Tax Cut-Unemployment Compromise
December 10, 2010
Last night, the Senate released legislative language for the tax cut-unemployment insurance compromise negotiated between President Obama and Congressional Republicans. The Joint Committee on Taxation (JCT) released an official cost estimate for the revenue portions of the bill shortly thereafter. These graphs illustrate the various components … -
Statement: Robert Greenstein, Executive Director, on the Tax Cut-Unemployment Insurance Deal
Updated December 8, 2010
The deal between President Obama and Republican leaders on tax cuts and unemployment insurance has two substantial positive aspects: its surprisingly strong protections for low- and middle-income working families and its stronger-than-expected boost for the economy and jobs. But it … -
Statement: Robert Greenstein, Executive Director and James Horney, Director of Federal Fiscal Policy, on the Final Report from the Co-Chairs of the Deficit Commission
December 1, 2010
The new deficit reduction plan that the co-chairs of the President’s Commission on Fiscal Responsibility and Reform — former Clinton White House Chief of Staff Erskine Bowles and former Republican Senator Alan Simpson — presented today to commission members contains a number of relatively modest … -
Rivlin-Domenici Deficit Reduction Plan Is Superior to Bowles-Simpson in Most Areas
November 30, 2010
The Rivlin-Domenici deficit reduction plan, which a commission of the Bipartisan Policy Center unveiled last week, marks a significant improvement over a plan from the co-chairs of President Obama’s fiscal commission — with the exception of health care, in which the Rivlin-Domenici plan actually is more problematic. … -
Podcast: The Impact of the Expiration of Federal Emergency Unemployment Benefits
November 30, 2010
Chad Stone, the Center’s Chief Economist, discusses the expiration of federal emergency unemployment benefits and what it means for millions of jobless workers and the economy.
Duration: 3:33
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Changing Budget Process Won’t Reduce Deficit — Only Specific Policy Changes Can Do That
November 18, 2010
A commission funded by the Peter G. Peterson Foundation and the Pew Charitable Trusts has proposed far-reaching changes in the process by which the President and Congress develop and implement the federal budget.[1] The commission argues that the current federal budget process contributes to large deficits and that reducing the deficit … -
“Progressive” Price-Indexing Would Significantly Cut Social Security Benefits for Many Recipients
November 17, 2010
Proposals to tie initial benefit levels for new Social Security beneficiaries to changes in prices rather than average wages are receiving attention as policymakers wrestle with the nation’s fiscal challenges and with options to close Social Security’s long-term financing shortfall. Such proposals, commonly called … -
Bowles-Simpson Plan Commendably Puts Everything on the Table But Has Major Deficiencies Because It Lacks an Appropriate Balance Between Program Cuts and Revenue Increases
November 16, 2010
I. Overview and Summary The November 10 plan from the co-chairs of President Obama’s Commission on Fiscal Responsibility and Reform helps move the budget debate beyond misguided claims that policymakers can tame deficits simply or primarily by eliminating earmarks and “waste, fraud, and abuse.” It also wisely subjects all … -
Podcast: Key Issues Facing Congress
November 16, 2010
Jim Horney, the Center’s director of Federal Fiscal Policy, discusses the key issues facing Congress during the lame duck session that began yesterday.
Duration: 4:45
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House GOP Leaders’ Plan Would Slash Funds for State and Local Services, Slow Economic Recovery
November 11, 2010
A proposal by House Republican leaders to cut non-security discretionary spending by more than 20 percent in fiscal year 2011 could reduce federal funding for programs operated by state and local governments by $32 billion, substantially reducing the ability of those governments to provide crucial services to millions of Americans. (See page … -
Emergency Unemployment Insurance Benefits Remain Critical for the Economy
November 10, 2010
Although the unemployment rate is stuck at more than 9½ percent, jobless workers will see unemployment insurance (UI) benefits slashed to pre-recession levels unless Congress acts before the end of this month. That would deliver a harsh blow to most of the 5 million workers now receiving federal emergency UI benefits … -
Media Briefing: A Priority for Lame Duck Congress: Extending Federal Emergency Unemployment Insurance
November 10, 2010
Robert Greenstein, Executive Director and Chad Stone, Chief Economist explains what it would mean if Congress fails to continue the emergency UI program, which provides additional weeks of federal benefits to unemployed workers who exhaust their 26 weeks of regular state benefits before they can find a job.
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Social Security Shortfall Warrants Action Soon
November 9, 2010
For more than two decades, the Social Security trustees have reported that there is a significant long-term gap between the program’s benefits and revenues under current policies. Policy makers have not yet corrected this imbalance in part because of the difficulty of finding an acceptable compromise resolution. Reasonable individuals disagree about the … -
Bipartisan Experts Agree that Social Security Shortfall Exists; Congress Should Act Soon To Fix It
November 9, 2010
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Podcast: The October Employment Report and What It Means for the Economy
November 5, 2010
I’m Keri Fulton and I’m here with Chad Stone, the Center’s Chief Economist, to discuss the jobs report for October. 1. Chad, today’s jobs report seems to have generated some excitement for the first time in a while with the economy generating more jobs than expected. Is the … -
New Deficit-Reduction Plan Would Jeopardize Health Reform
October 6, 2010
Bill Galston of the Brookings Institution and Maya MacGuineas of the New America Foundation recently offered a plan to reduce federal deficits and push down debt held by the public to 60 percent of gross domestic product by 2020.[1] The plan has several commendable features. It explicitly recognizes that it would be unrealistic to hold federal … -
Conference: America's Fiscal Future
October 5, 2010
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Podcast: What the New Fiscal Year Means for Federal Programs
September 28, 2010
Jim Horney, Director of Federal Fiscal Policy, discusses how federal programs are affected by the start of the new fiscal year. Duration: 5:04
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Thousands of Poor Refugees Face Loss of SSI Benefits
September 15, 2010
On October 1, up to 5,600 poor refugees and other poor individuals admitted to the United States because they faced persecution in their home countries will lose badly needed benefits from the Supplemental Security Income (SSI) program, when a temporary provision of law expires. Over the next 13 months, up to 11,000 such individuals will have … -
Boehner Proposal Would Cut Non-Security Discretionary Programs 21 Percent, The Deepest Such Cut in Recent U.S. History
Revised September 15, 2010
House Minority Leader John Boehner on September 8 issued a proposal to cut funding for non-security discretionary programs and to extend all of the Bush tax cuts for two years. He portrayed the proposal as a bipartisan compromise. Closer examination shows, however, that this is a radical plan that reflects deeply conservative … -
Podcast: Next Steps on the Estate Tax
September 7, 2010
Chuck Marr, the Center’s Director of Federal Tax Policy, discusses the current status of the estate tax.
Duration: 3:56
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Podcast: Upcoming Debate on Middle-Class and High-Income Tax Cuts
August 31, 2010
Chuck Marr, Director of Federal Tax Policy, discusses the debate about taxes that will take center stage when Congress returns after Labor Day.
Duration: 4:08
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2010 Medicare Trustees’ Report Shows Benefits of Health Reform and Need for Its Successful Implementation
August 16, 2010
The 2010 annual report of Medicare’s trustees clearly demonstrates that the Affordable Care Act (or ACA, the recently enacted health reform legislation) has greatly improved the financial status of the Medicare program.[1] It also shows that successful implementation of the ACA is an essential first step toward slowing … -
What the 2010 Trustees’ Report Shows about Social Security
August 13, 2010
On August 5, the Social Security Board of Trustees issued the 70th annual report on the program’s financial and actuarial status. [1] The trustees’ report shows some mild deterioration in the program’s short-term outlook — a finding that was widely expected — and a mild improvement in its long-run … -
Extension of High-Income Tax Cuts Would Benefit Few Small Businesses; Jobs Tax Credit Would Be Better
August 3, 2010
Proponents of extending President Bush’s 2001 and 2003 tax cuts for people with incomes over $250,000 argue, in part, that allowing them to expire after 2010 would weaken the economy by hurting small businesses. In reality, however, extending the tax cuts would do little for small business because only the top 3 percent of people with … -
Podcast: Letting the High-Income Tax Cuts Expire
August 3, 2010
Chuck Marr, the Center’s Director of Federal Tax Policy, discusses why letting the high-income tax cuts expire is the proper response to the nation’s short and long-term challenges.
Duration: 4:23
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Federal Spending Target of 21 Percent of GDP Not Appropriate Benchmark for Deficit-Reduction Efforts
July 28, 2010
The average level of federal spending over the years since 1970 — about 21 percent of gross domestic product (GDP) — does not provide a reasonable benchmark for the level of spending that will be necessary or appropriate in the future. The Heritage Foundation has proposed that, in developing its recommendations, the … -
Letting High-Income Tax Cuts Expire Is Proper Response to Nation’s Short- and Long-Term Challenges
July 26, 2010
Letting President Bush’s tax cuts for families making over $250,000 expire as scheduled at the end of 2010, while temporarily redirecting this money to more efficient ways of boosting the economy while it is weak, would help the nation address two key challenges: short-term economic weakness (with nearly one in ten … -
Fiscal Commission Should Not Focus On Gross Debt
July 21, 2010
A call by several members of the President’s Commission on Fiscal Responsibility and Reform for the commission to focus on the federal government’s gross debt, rather than debt held by the public, is misguided and could inhibit efforts to address the nation’s long-term fiscal challenges. Debt held by the public … -
The Ryan Budget's Radical Priorities
Revised July 7, 2010
I. Summary The Roadmap for America’s Future, which Rep. Paul Ryan (R-WI) — the ranking Republican on the House Budget Committee — released in late January, calls for radical policy changes that would result in a massive transfer of resources from the broad majority of Americans to the nation’s … -
Podcast: Testimony of Robert Greenstein before the Commission on Fiscal Responsibility and Reform
June 30, 2010
Robert Greenstein, the Center’s Executive Director, discusses the need to be careful in addressing budget deficit in a testimony before the President’s Commission on Fiscal Responsibility and Reform on June 30th, 2010.
Duration: 6:46
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Testimony of Robert Greenstein, Executive Director and Jim Horney, Director of Federal Fiscal Policy before the Commission on Fiscal Responsibility and Reform
June 30, 2010
Members of the Commission, Thank you for giving us the opportunity to speak to you today. The Center on Budget and Policy Priorities is a nonpartisan research and policy institute that focuses both on fiscal policy and on programs and policies of particular importance to low- and moderate-income … -
Critics Still Wrong on What’s Driving Deficits in Coming Years
Updated June 28, 2010
The data in this analysis has been updated, but this version has a detailed critique of a misleading report by the Heritage Foundation that places blame for the deficits on rapid growth in Social Security, Medicare, Medicaid, and interest costs, and dismisses the significance of weak revenues in general and the 2001 and 2003 tax cuts in particular. To view the … -
Thune Response to CBPP Report Misses Mark
June 17, 2010
We reported on June 15[1] that Senator John Thune’s proposal to cut $140.6 billion in budget authority from discretionary (i.e., non-entitlement) programs in fiscal year 2010 would shut down much of the federal government for the last two and a half months of the fiscal year (which ends September 30). Senator Thune said we are wrong … -
Thune Amendment Would Shut Down Much of the Federal Government for Final Months of Fiscal Year
June 15, 2010
Senator John Thune has proposed legislation with an obvious surface appeal to those concerned about federal spending and deficits — to cancel 5 percent of appropriated funds for fiscal year 2010, as well as tens of billions of dollars of unspent funds from last year’s Recovery Act and other legislation. But his legislation would … -
Podcast: How the Health Reform Law Reduces the Deficit, Part 2
June 1, 2010
Paul Van de Water, a Senior Fellow at the Center, discusses the sources of revenue in the new health reform law. Duration: 4:30 -
Recommendation That President’s Fiscal Commission Focus on Gross Debt Is Misguided
May 27, 2010
At a May 26 presentation before the President’s Commission on Fiscal Responsibility and Reform, University of Maryland professor Carmen M. Reinhart asserted that the gross debt of the government of the United States — rather than debt held by the public — is what matters, and a number of commission members agreed with her. … -
Sessions-McCaskill Proposal to Establish Discretionary Funding Limits Would Impose Steep Cuts on Domestic Programs
May 25, 2010
A proposal by Senators Jeff Sessions and Claire McCaskill to establish binding limits on discretionary appropriations for the next three years, which they are offering as an amendment to the supplemental appropriations bill now on the Senate floor, would necessitate much larger cuts in nondefense discretionary programs than many policymakers … -
Podcast: How the Health Reform Law Reduces the Deficit, Part 1
May 25, 2010
Paul Van de Water, a Senior Fellow at the Center, discusses how the health reform law saves money for the federal government. Duration: 3:53
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Budgetary Concerns Should Not Be An Obstacle to Passing the New Jobs Bill
Revised May 20, 2010
Congress is about to take up a jobs bill that will provide a needed boost to the economic recovery and help people still struggling to find work in a difficult labor market. Senate Finance Committee Chairman Max Baucus and House Ways and Means Committee Chairman Sander Levin today released a summary of … -
Understanding the CMS Actuary’s Report on Health Reform
May 17, 2010
The analysis of the health reform legislation prepared by the chief actuary of the Centers for Medicare & Medicaid Services (CMS) has been widely misrepresented and misunderstood.[1] This brief paper describes some of that report’s key findings and clears up some of the most common misunderstandings. Does the actuary estimate that … -
How Health Reform Helps Reduce the Deficit
May 10, 2010
The new health reform law will extend coverage to over 30 million uninsured Americans and provide important consumer protections to tens of millions of insured Americans whose coverage may have critical gaps. These coverage expansions will be more than paid for by specific reductions in spending for Medicare, Medicaid, and other federal … -
Podcast: Health Reform Myths & Realities, Part 5
May 7, 2010
Jim Horney, Director of Federal Fiscal Policy, discusses the false claim that the law doesn’t slow health costs because its coverage expansions will increase total national spending on health care. Duration: 2:14
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Ryan’s Response to Center’s Analysis of “Roadmap” Is Off Base
Revised May 6, 2010
We are quite disappointed that, in responding to our analysis[1] of his budget plan, Rep. Paul Ryan accuses[2] the Center on Budget and Policy Priorities of “partisan demagoguery” as well as “factual errors and misleading statements.” Quite the contrary, we applied the same rigorous analytical process to Rep. Ryan’s Roadmap for America’s … -
Podcast: Health Reform Myths & Realities, Part 4
April 30, 2010
Jim Horney, Director of Federal Fiscal Policy, discusses the false claim that the new health reform law’s cost estimate should include the cost of preventing a cut in the amount that Medicare pays doctors.
Duration: 2:51
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Video Highlights from the Peter Peterson Foundation Event on Budget and Deficits
April 28, 2010
Suggesting a stronger move to fiscal conservatism, economic officials gathered at the first-ever National Fiscal Summit to advance the national dialogue on avoiding another economic crisis. Fmr. Pres. Clinton and the co-chairmen of the National Debt Commission were the morning keynote speakers. The summit coincides with the recent bipartisan fiscal commission meeting and Congress' current work on finance overhaul legislation.
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Video Highlights from the Peter Peterson Foundation Event on Budget and Deficits
April 24, 2010
Suggesting a stronger move to fiscal conservatism, economic officials gathered at the first-ever National Fiscal Summit to advance the national dialogue on avoiding another economic crisis. Fmr. Pres. Clinton and the co-chairmen of the National Debt Commission were the morning keynote speakers. The … -
Podcast: Health Reform Myths & Realities, Part 3
April 23, 2010
Jim Horney discusses the false claim that the health reform law’s Medicare savings are meaningless.
Duration: 3:12
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The Sustainable Growth Rate Formula and Health Reform
April 21, 2010
Some critics of the new health reform law contend that the Congressional Budget Office (CBO) cost estimate understates the law’s true cost because the law doesn’t fix Medicare’s flawed sustainable growth rate (SGR) payment formula for physicians. Since Congress is certain to enact a fix, these critics contend, its cost … -
Podcast: Health Reform Myths & Realities, Part 2
April 20, 2010
The false claim that the health reform law uses revenues from Social Security and premiums from a new long-term care insurance program to offset the cost of health reform is discussed by Jim Horney, Director of Federal Fiscal Policy.
Duration: 3:10
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Sessions-McCaskill Amendment to Establish Discretionary Funding Limits Would Impose Severe Cuts on Domestic Programs
Revised April 19, 2010
We have since analyzed a later Sessions-McCaskill proposal. To view that analysis, click here. A proposal by Senators Jeff Sessions and Claire McCaskill to establish binding limits on discretionary appropriations for the next three years would necessitate cuts in nondefense discretionary programs that would total nearly $30 billion in fiscal year 2011 … -
Podcast: Health Reform Myths & Realities, Part 1
April 15, 2010
The false claim that the health reform law hides the true cost of health reform by collecting its new revenues in the early years and delaying spending until later years is discussed by Jim Horney, Director of Federal Fiscal Policy.
Duration: 2:45
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Failure to Renew Federal Benefits Changes the Map for State Unemployment Insurance Coverage
April 14, 2010
For updated data see: Policy Basics: How Many Weeks of Unemployment Compensation Are Available? Congress’s failure to extend the measures providing extra weeks of unemployment insurance (UI) and subsidized COBRA health insurance coverage for unemployed workers – which President Obama and Congress enacted in the 2009 American … -
Congress Should Act Quickly to Extend UI/COBRA Benefits Through the End of This Year
April 12, 2010
The long-term unemployment rate — the percentage of people in the work force who have been out of work for over half a year and are still looking for a job — reached an unprecedented 4.3 percent of the labor force in March (see the chart). Yet Congress has allowed the Recovery Act measures that provide additional weeks of … -
President’s Budget Would Strengthen Housing Voucher Program
April 6, 2010
Executive Summary In a budget that would freeze overall funding for non-security discretionary (i.e., non-entitlement) programs, the Administration has made the renewal of “Section 8” Housing Choice vouchers a priority. The President’s budget requests $17.1 billion to renew vouchers in 2011, an increase of $875 million above … -
Podcast: Where Do Our Federal Tax Dollars Go?
April 6, 2010
Chuck Marr, the Center’s Director of Federal Tax Policy, discusses how our federal tax dollars are spent. Duration: 4:59
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Obama Budget Reduces Deficit by $1.3 Trillion over Next Decade Compared to Current Policies
April 5, 2010
Despite claims that President Obama’s policies will generate big increases in deficits, his 2011 budget would actually reduce deficits by about $1.3 trillion over ten years, based on a Congressional Budget Office (CBO) estimate of his budget and a realistic assessment of what deficits would be if policymakers continued to follow current … -
Media Briefing: Debunking Claims That Health Reform Will Not Reduce the Deficit
March 29, 2010
Robert Greenstein, and former senior Congressional Budget Office (CBO) officials James Horney and Paul Van de Water, discuss claims that the health reform legislation will not reduce the deficit because of gimmicks in it – despite an official CBO estimate to the contrary. Robert Reischauer, former CBO Director and now President of the Urban Institute, also joins the briefing.
Duration: 20:42
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Health Reform Will Reduce the Deficit
March 25, 2010
Despite an official estimate by the Congressional Budget Office (CBO) to the contrary, some critics of the new health reform legislation — such as Rep. Paul Ryan and former CBO director and McCain campaign adviser Douglas Holtz-Eakin — charge that it will not reduce federal budget deficits because it relies on budgetary gimmicks … -
Testimony: Robert Greenstein Executive Director, Center on Budget and Policy Priorities, on the Need to Implement a Balanced Approach to Addressing the Long-Term Budget Deficits
March 23, 2010
I appreciate the invitation to appear before you today. I am Robert Greenstein, executive director of the Center on Budget and Policy Priorities, a nonprofit policy institute that conducts research and analysis on fiscal policy matters and an array of federal and state programs and policies. My testimony today makes three major … -
Podcast: Testimony of Robert Greenstein on Addressing Long-Term Deficits
March 23, 2010
Executive Director Robert Greenstein discusses the need to implement a balanced approach in addressing the long-term budget deficit in a testimony before the House Ways and Means Subcommittee on Select Revenue Measures.
Duration: 7:49
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Podcast: Reconciliation and Health Reform
March 16, 2010
A legislative tool called “reconciliation” and its role in health reform are discussed by a Senior Fellow at the Center, Paul Van de Water.
Duration: 4:08
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Media Briefing: The Ryan Budget’s Radical Priorities
March 10, 2010
Robert Greenstein and Paul Van de Water discuss the radical priorities in Rep. Paul Ryan’s budget proposal in a media call on March 10, 2010.
Duration: 21:34
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Podcast: The Recovery Act Creates Jobs and Boosts Economy
March 9, 2010
The latest information showing that the Recovery Act is creating jobs and boosting the economy is discussed by Senior Policy Analyst Michael Leachman. Duration: 3:12
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Podcast: The February Employment Report and What It Means for the Economy
March 5, 2010
The jobs report for February is discussed by Chief Economist, Chad Stone.
Duration: 2:48
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Using Reconciliation Process to Enact Health Reform Would Be Fully Consistent With Past Practice
Updated March 3, 2010
The President and Democratic congressional leaders have determined that the best way to enact comprehensive health reform in the face of solid Republican opposition is to use the congressional reconciliation process to make a limited number of changes to the health reform bill that the Senate passed in December.[1] Despite charges by congressional Republicans and … -
Getting the Facts Straight
February 17, 2010
Some of President Obama’s critics and political opponents have launched a line of argument that Obama is mostly to blame for the large federal budget deficits projected for the coming decade and that his Administration’s role in swelling deficits and debt dwarfs that of the previous administration. [1] The critics cite what they … -
Podcast: The January Employment Report and What It Means for the Economy
February 16, 2010
The jobs report for January is discussed by Chief Economist, Chad Stone.
Duration: 3:32
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President's Budget Requests $266 Billion to Support Economic Recovery
February 5, 2010
In light of the still tenuous nature of the economic recovery, President Obama’s budget request of $266 billion for temporary provisions to support and speed economic recovery is necessary, reasonably sized, and well targeted.[1] Some news outlets, focusing on the budget’s $100 billion for a new “jobs initiative,” have reported that the budget … -
Health Reform Essential for Reducing Deficit and Slowing Health Care Costs
February 3, 2010
Because rising health care costs represent the single largest cause of the federal government’s long-term budget problems, fundamental health reform must be part of any budget solution.[1] President Obama observed at a recent town hall meeting: “If you are serious about reducing our deficit and debt you cannot accomplish it without reforming … -
Statement: Robert Greenstein, Executive Director, on the President's 2011 Budget Proposal
February 1, 2010
The President’s budget reflects both the short-term priority of boosting the economy and creating jobs and the longer-term priority of bringing deficits under control while meeting important national needs. There is a strong case for more medium- and long-term deficit reduction than the budget contains. But the budget likely goes as far in this … -
Podcast: Greenstein on the Priorities Reflected in the President’s Budget
February 1, 2010
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Statement: Robert Greenstein, Executive Director, on the Statutory “Pay As You Go” Budget Proposal
January 27, 2010
This proposal marks a useful step toward restoring fiscal responsibility. A well-designed pay-as-you-go (PAYGO) rule can contribute significantly to the fiscal discipline needed to address the nation’s serious long-term budget problems, presuming that policymakers abide by it and pay … -
Podcast: The Long-Term Budget Outlook
January 26, 2010
The long-term budget outlook is discussed by the Center’s Director of Federal Fiscal Policy, Jim Horney.
Duration: 5:12
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Podcast: Robert Greenstein Testimony on the Long-Term Budget Problem
January 21, 2010
Robert Greenstein testifies on the long-term budget deficit before the House of Representatives Committee on the Budget on January 21, 2010.
Duration: 11:12
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Testimony: Robert Greenstein on the Long-Term Budget Problem Facing the United States
January 21, 2010
Mr. Chairman, Congressman Ryan, and members of the Committee, I appreciate the opportunity to appear here today to discuss the long-term budget problem facing the United States. Last week, the Center on Budget and Policy Priorities released a new analysis presenting our latest long-term projections of federal spending, revenues, deficits, and … -
Press Release: Setting The Right Fiscal Target: Policymakers Should Stabilize Debt As Share Of Economy Over Next Decade
January 12, 2010
Deficits and debt will rise to unprecedented levels in coming decades without major changes in federal budget policies, so policymakers should set a goal of stabilizing the debt as a share of gross domestic product (GDP) over the next decade, the Center on Budget and Policy Priorities reported today. In its analysis, “The Right Target: Stabilize the Federal … -
The Right Target: Stabilize the Federal Debt
January 12, 2010
Deficits and debt will rise to unprecedented levels in coming decades without major changes in federal budget policies, so policymakers should set a goal of stabilizing the debt as a share of gross domestic product over the next decade. This report presents new Center on Budget and Policy Priorities projections of federal spending, …
