Updates / Fiscal Policies

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By / 9.13.2018

It’s official: House Republicans are campaigning on a pledge to increase the federal budget deficit. It was just 10 months ago that they enacted a package of ostensibly temporary tax cuts that is projected to increase deficits by roughly $2 trillion over the next decade. This week, they offered a series of proposals dubbed “Tax Reform […]

By / 8.28.2018

They’re a tempting alternative to raising taxes, but their long-term costs far outweigh the revenue they bring in. Raising taxes is painful. That may be why, since 2010, 47 states and a number of cities have instead raised both civil and criminal fines and fees. These increases are often viewed as a conflict-free way to […]

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 and / 7.18.2018

Amid the daily drama of President Trump’s tweets and scandals, it can be hard to focus on the most important issues for our future. An unfortunate consequence of this purposeful turmoil is that few serious solutions are being offered for addressing two of the greatest threats facing the United States: runaway climate change and unsustainable […]

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 / 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 […]