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Most Deficit Savings Have Come from Program Cuts

April 9, 2013

Tomorrow’s release of President Obama’s budget will bring new attention to the debate over how to reduce deficits.  A key sticking point in that debate has been Republican leaders’ opposition to any new revenues on top of those in January’s American Taxpayer Relief Act.

With that in mind, here’s a fact worth remembering:  some 70 percent of the $2.3 trillion in policy...

Four Reasons Not to Move to Biennial Budgeting

April 2, 2013

The Senate recently expressed support for “biennial budgeting,” under which policymakers would consider budgets and appropriations bills that stretch over two years rather than one.  We urge those who voted for this concept, in the form of an amendment to the Senate budget resolution, to reconsider.

While proponents of biennial budgeting say it will improve budgeting and congressional...

Two-Thirds of Ryan’s Cuts Would Come from Low- and Moderate-Income Programs

March 15, 2013

We recently updated the percentage, below, from 66 to 72 percent, and the cuts, below, from $3.3 trillion to $3.1 trillion— and that’s because we updated our budget baseline primarily to assume that the sequestration budget cuts remain in effect.

At least 66 percent of the cuts in House Budget...

OMB Announces Amounts of Budget Cuts Under Sequestration

March 4, 2013

The Office of Management and Budget has calculated how deeply the automatic budget cuts — known as sequestration — which began on Friday, will cut programs.  These figures differ slightly from our earlier estimates and are reflected in the table below.
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Three Reasons Why Unused Funds Aren’t a Painless Source of Deficit Savings

March 4, 2013

Senator Marco Rubio (R-FL) and several other congressional Republicans have proposed canceling $45 billion in unused funding that Congress provided for discretionary programs in prior years, using the savings to shrink deficits.  The idea that...

How Big Are the Automatic “Sequestration” Cuts Scheduled for March 1?

February 11, 2013

Update March 4:  Click here for the Office of Management and Budget’s calculations of the cuts under sequestration.

We have slightly revised our estimates of the...

$1.5 Trillion More in Deficit Savings Would Stabilize Debt Over Coming Decade

February 11, 2013

Our updated analysis explains that policymakers could stabilize the public debt as a share of the economy over the coming decade by enacting $1.5 trillion more in deficit reduction, beyond the savings that the 2011 Budget Control Act, the “fiscal cliff” tax...

Here’s How the March 1 Sequester Would Work

January 22, 2013

Update March 4:  Click here for the Office of Management and Budget’s calculations of the cuts under sequestration.

Automatic budget cuts — known as sequestration — had been scheduled for January 2, but the so-called “fiscal cliff” budget deal postponed them...

Why Stabilizing the Debt Is an Appropriate Target

January 18, 2013

CBPP estimates that $1.4 trillion in additional deficit savings — on top of those in the 2011 Budget Control Act, the recent “fiscal cliff” tax deal, and other legislation — would stabilize the public debt as a share of the economy over the next decade (see...

Obama Revenue Figure Well Below Bowles-Simpson

November 16, 2012

11-16-12bud.jpgPresident Obama has called for $1.6 trillion in new revenue over ten years as part of a deficit-reduction package.  Senate Minority Leader Mitch McConnell said yesterday that this is more than the Bowles-Simpson commission...

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