Updates / Fiscal Policies

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By / 6.14.2018

When the Social Security and Medicare trustees warned last week that both programs are on tenuous financial footing, Treasury Secretary Steve Mnuchin said: “The administration’s economic agenda — tax cuts, regulatory reform and improved trade agreements — will generate the long-term growth needed to help secure these programs and lead them to a more stable path.” He […]

By / 6.7.2018

It’s no secret that the American health care system is far from perfect. The United States spends a higher percentage of our gross domestic product on health care than any other country despite having comparable outcomes. And although the Affordable Care Act successfully reduced the percentage of uninsured Americans by almost half between 2010 and […]

By / 6.6.2018

The new reports released yesterday by the trustees for Social Security and Medicare warn that both programs face a growing gap between scheduled benefits and the dedicated revenue sources that finance them. If nothing is done to address the shortfalls in these programs, they will pose a grave threat to both the beneficiaries who depend […]

By / 5.30.2018

President Trump’s most recent budget proposal was widely panned when it was released in February for being both fiscally irresponsible and dependent on unrealistic economic assumptions. An analysis published last week by the non-partisan Congressional Budget Office confirms these criticisms were valid and highlights the significant difference between the Trump administration’s approach to fiscal policy […]

By / 4.19.2018

Earlier this week, we published a blog exploring the relationship between budget deficits and unemployment under both Democratic and Republican presidents over the last 40 years. Our analysis found that deficits under Democratic presidents rose and fell with unemployment (which is what should happen when adhering to responsible counter-cyclical fiscal policy), while deficits under Republican […]

By / 4.17.2018

When taxpayers file their tax returns this time next year, four out of five will likely see a smaller tax liability than they do today, due to major tax legislation enacted last year. But these savings to taxpayers will be nothing more than a mirage: after accounting for the true cost of this legislation, what […]

By / 4.16.2018

Over the weekend, David Leonhardt published an op-ed in the New York Times entitled “The Democrats Are the Party of Fiscal Responsibility.” Leonhardt argues that Democrats get insufficient credit for the fact that federal budget deficits drop when their party holds the White House while deficits rise when Republicans take control.  We believe Leonhardt is […]

By / 4.10.2018

The latest report published yesterday by the non-partisan Congressional Budget Office shows the United States faces a rapidly deteriorating fiscal situation. Beginning in 2020, the federal government will spend over $1 trillion more than it raises in revenue every single year in perpetuity. The government has to borrow money to finance these soaring deficits and […]

By / 4.10.2018

On Thursday, House Republicans will vote on a constitutional amendment proposed by Rep. Bob Goodlatte (R-VA) that would require the federal government to balance its budget every year. The vote, which is virtually guaranteed to fall short of the two-thirds super majority necessary for passage, is nothing more than a cynical ploy to give the […]

By / 4.9.2018

WASHINGTON — Ben Ritz, director of the Center for Funding America’s Future at the Progressive Policy Institute (PPI), today released the following statement after new fiscal projections released by the nonpartisan Congressional Budget Office (CBO) this afternoon demonstrated the enormous cost of policies adopted during the first year of Trump’s presidency: “The national debt is now on […]