News
WSJ | Paul Ryan Unveils GOP Plan to Balance Budget in 10 Years
House Budget Committee Chairman Paul Ryan (R., Wis.) Tuesday proposed eliminating the government's budget deficit in 10 years through major changes to Medicare, Medicaid, food stamps and other programs—and took the controversial step of counting in assumptions on how the plan would spur economic growth.
Washington Times | Constitutional conundrum: Michigan demand for a balanced budget could trigger amendment convention
Michigan lawmakers last week voted to demand a balanced budget amendment to the U.S. Constitution, a move that could set into motion a never-tested, widely feared convention with the power to rewrite part of the founding document.
Econ Comments & Analysis
Mercatus | The True Weight of the Fiscal Gap
Conventional fiscal accounting points to debt held by the public—currently at about $12 trillion—as the measure of a country’s fiscal sustainability.
CBO | Budgetary and Economic Outcomes Under Paths for Federal Revenues and Noninterest Spending Specified by Chairman Ryan, April 2014
At the request of the Chairman of the House Budget Committee, Congressman Paul Ryan, CBO has projected budgetary and economic outcomes under paths for federal revenues and spending (excluding interest payments) specified by the Chairman.
Blogs
CBO | CBO's Role in Budget Resolutions
The Chairman of the House Budget Committee has announced that the committee will be developing and voting on a proposed budget resolution this week. Past experience indicates that CBO will receive lots of questions about that budget resolution and about our “estimates” of its impact. So, let me explain a bit about such resolutions.
CATO | Is Government Debt a Problem?
Based on what’s happened in Greece and other European nations, we know from real-world evidence that even nations from the developed world can spend themselves into debt trouble.
Heritage Foundation | The Pros and Cons of Ryan’s 2015 Path to Prosperity Budget
Today, House Budget Committee Chairman Paul Ryan released the Fiscal Year 2015 Path to Prosperity Budget. Building on foundations established in 2011, this plan seeks to balance the budget within 10 years by cutting spending, reforming poverty programs, and importantly, reforming the health care entitlements—the largest drivers of deficit spending and debt.
