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By / 8.15.2018

This week, Sen. Elizabeth Warren (D-MA) unveiled new legislation aimed at turning American’s largest companies into better corporate citizens. Under Warren’s “Accountable Capitalism Act,” companies earning more than $1 billion a year in revenues would be required to obtain a new federal corporate charter her legislation would create. Among other things, this charter would mandate […]

By / 8.9.2018

When the non-partisan Congressional Budget Office published its Long-term Budget Outlook in June, it estimated that the national debt relative to the size of the economy would nearly double over the next 30 years – from 78 percent of gross domestic product today to 152 percent of GDP in 2048. Yesterday, a new report from CBO […]

By / 6.27.2018

Yesterday, the non-partisan Congressional Budget Office published their first long-term budget outlook since the passage of last year’s tax cuts and February’s spending increases. In contrast to April’s budget and economic outlook, which made budget projections only for the next decade, the long-term budget outlook offers budget projections over the next 30 years – and […]

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 / 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 / 4.17.2018

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 / 4.10.2018

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 / 3.8.2018

Senate Democrats yesterday unveiled an ambitious $1 trillion infrastructure proposal that would invest in everything from roads and railways to hospitals and high-speed broadband. And in sharp contrast to recent proposals by the Trump administration, this new Democratic proposal includes a plan to fully pay for itself. The proposal calls for repealing three elements of […]

By / 3.5.2018

New projections from the non-partisan Committee for a Responsible Federal Budget show that Donald Trump and the Republican-controlled Congress have plunged the United States back into trillion-dollar deficits at a time when most economists believe we should be whittling them down. According to CRFB’s estimates, which are based on a methodology similar to the one […]