Committee for a Responsible Federal Budget

Posts tagged congress

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A Guide to Congress's Gimmicks

Lawmakers are digging deep into their playbook to avoid paying for new policies. Our Marc Goldwein lays out the playbook in theatlantic ​http://www.theatlantic.com/business/archive/2014/04/a-guide-to-congresss-gimmicks/359934/

Filed under Budget congress

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Decisions, Decisions – Washington waits with bated breath for the Supreme Court to rule Thursday on the constitutionality of the Affordable Care Act, the 2010 health care reform law. Not only will the decision have repercussions for politics and health care, it will also impact the federal budget significantly. In a blog last week, we laid out how the federal budget will be affected in different scenarios. In another blog post, we also noted that no matter what the Supreme Court says, policymakers will have a lot of work ahead in bending the health care cost growth curve down, since rising health care costs will be one of the biggest drivers of our national debt going forward. Also on Thursday, the House is expected to vote on a resolution on holding Attorney General Eric Holder in contempt of Congress involving the “Fast and Furious” investigation. There is a lot of contempt to go around in Washington. Partisan disdain is getting in the way of dealing with issues such as the national debt. Meanwhile, the contempt for politicians among voters grows as they cannot even accomplish relatively simple tasks like adopting a budget. Whether lawmakers can rise above the mutual contempt will be on display this week as they seek to renew highway funding and lower student loan interest rates ahead of deadlines.
We are supremely confident you will like this week’s Line Items, a look at the latest federal budget and fiscal policy news.

Filed under budget debt Congress

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At the end of 2012 and the beginning of 2013, many major fiscal events are set to occur all at once. They include the expiration of the 2001/03/10 tax cuts, the winding down of certain jobs provisions, the activation of the $1.2 trillion across-the-board “sequester,” an immediate and steep reduction in Medicare physician payments, the end of current AMT patches, and the need to once again raise the country’s debt ceiling.
From "Cliff-hanger end to 2012 awaits"

Filed under fiscal cliff budget congress politics economy debt ceiling debt limit tax cuts

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Mad, Mad World – There’s enough madness in DC to go around. Lawmakers from opposite parties seem perpetually angry at each other, yet they are moving in lockstep towards what Federal Reserve Chairman Ben Bernanke recently called a “fiscal cliff” at the end of the year. And expecting Congress to adopt a budget has become akin to picking a 16th seed to win. Unlike the big tourney, there doesn’t seem to be an end in sight to this madness.
Read the latest budget and fiscal policy news at http://crfb.org/blogs/line-items-march-madness-edition

Filed under news politics Congress March Madness deficit budget national debt

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Deficit Secondary in Primary – The presidential primary campaign hits a key point this week as “Super Tuesday” contests in several states may go a long ways in determining who will face off against President Obama in November. Although voters constantly rank the economy and federal budget deficit as the top two issues, they seem to have taken a back seat to social issues in the campaign right now. However, CRFB’s U.S. Budget Watch project seeks to elevate fiscal policy in the election. It started with “The 12 Principles of Fiscal Policy for the 2012 Campaign” and recently featured the release of “Primary Numbers: The GOP Candidates and the National Debt” – which examined how the candidates’ policy positions would affect the budget.
From Line Items: Primary Edition - our unique look at the latest budget and fiscal policy news.

Filed under budget Federal Budget news politics Congress

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U.S. As Charity Case – Move over Easter Seals, the national debt is becoming the hot new charitable cause. Billionaire Warren Buffett has promised to match the donations of any member of Congress towards reducing the national debt. He also agreed to match the $300 donation of a high school student. So, should Jerry’s Kids be worried? Economists have discussed how the mounting national debt could crowd out private investment, but will it also crowd out giving to charitable causes? Maybe the charity drives should be aimed towards curing a dysfunctional Washington.
Read the latest budget news. Lot’s of dollars, little sense.

Filed under Warren Buffett Buffett Rule congressional budget office congress CBO payroll tax payroll tax cut payroll tax holiday taxes tax expenditures budget budge treform deficit debt national debt