News
National Journal | Fiscal Doom: What You Weren't Told About the Latest Budget News
According to the nonpartisan CBO, the nation's spending pressures stem from an aging population, rising health care costs, and an expansion of federal subsidies for health insurance. Moreover, interest rates are expected to climb, adding to the red ink.
National Journal | Republicans Prep Short-Term Funding to Keep Government Open Through Election Day
Abandoning all pretense of the House and Senate agreeing on appropriations bills on time, House GOP leaders are tentatively planning to vote next week on a resolution keeping the government temporarily funded at current levels beyond the Oct. 1 start of the new fiscal year—and probably past Election Day.
Econ Comments & Analysis
Barrons | New Warning on U.S.'s Gathering Debt Storm
The CBO has cited debt-related crises in Argentina, Ireland, and Greece as useful comparisons with the one that could strike the U.S., a shocking analogy first unfurled in the agency's July 2010 issue brief, "Federal Debt and the Risk of a Fiscal Crisis." That brief was referenced in the agency's new warning, "The 2014 Long-Term Budget Outlook," released Tuesday.
Mercatus | In the Eye of the Debt Storm
In its July budget report to Congress, the White House’s Office of Management and Budget praised President Obama for presiding over the “most rapid sustained deficit reduction since World War II.” The president also deserves credit, we are told, for a budget that achieves a core goal of “fiscal sustainability.”
