The White House didn't like the recent Congressional Budget Office report showing that a $10 minimum wage would cost the economy 500,000 jobs. Director Douglas Elmendorf defends both the report and the CBO's work in hyperpartisan times.
For decades, Americans mostly left lawmaking to legislators in those infamous 'smoked-filled rooms.' Now, with cable news and the Internet, voters increasingly want to be involved and listened to.
The federal budget deficit will shrink for the next several years, giving US 'some breathing room,' says CBO Director Douglas Elmendorf. A chief obstacle to deficit reduction? The public actually likes the benefits it gets, he says.
People think the government spends too much, but they like their federal programs just as they are. Congress's budget-master Doug Elmendorf is here to help.
The federal deficit is falling, but could begin to nudge upward again in 2015, according to CBO data. That means trimming the deficit is important but not urgent, the CBO chief said Wednesday.
If Congress allows more people into the United States, our population, labor force, and economy will all get bigger. With immigration policy up in the air, the economy's trajectory will be difficult to predict.