Topic: U.S. Congressional Budget Office
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Sequester 101: What happens if $85 billion in cuts hit on March 1
The sequester is a complex concept with a tortuous history. Here are the basics on the automatic spending reductions set to kick in March 1.
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'Fiscal cliff' 101: 5 basic questions answered
President Obama and congressional leaders are working to stop the US from going over the “fiscal cliff,” a combination of higher taxes and lower spending set to take effect Jan. 1. Here are five steps to understanding what's going on.
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6 ways to avoid the 'fiscal cliff'
Republican congressional leaders and President Obama sharply disagree over how to deal with the impending “fiscal cliff.” But a successful plan shouldn’t be that hard to put in place. Here are six ways Washington can avoid the “fiscal cliff.”
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Six points where Mitt Romney and his economic advisers are mostly wrong
Mitt Romney’s economic plan is largely based on a whitepaper written by several “heavyweight” economists. The problem is, it's riddled with fundamental flaws. Here are six points where Mitt Romney and his economic advisers are mostly wrong about what ails the American economy and how to fix it.
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Briefing
Obama vs. Romney 101: 5 ways they differ on debt and deficits
President Obama and Mitt Romney offer sharply different views on how to get the nation back on a sustainable fiscal path. Here are five ways they differ on policies to cope with a soaring debt.
All Content
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The New Economy GDP up 2.5 percent: Smaller-than-expected bounce for US economy
GDP flashed 2.5 percent growth in the first quarter: much better than the fourth quarter but below expectations. Economists expect another slowdown in GDP growth for the summer.
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Immigration reform bill may hang on economic effect of legalizing millions
Friday's testimony at first Senate hearing on the bipartisan immigration reform bill presented economic pros and cons of legalizing some 11 million people. A chief concern is wage suppression for low-skill Americans.
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The New Economy Big drop in jobless claims: this week in the economy
A bigger-than-expected drop in jobless claims might mean the employment picture isn't as bleak as thought. But retail sales disappointed, and consumer sentiment is still gloomy.
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Social Security proposal from Obama: How would it affect you?
'Chained CPI,' a leading idea for how to keep Social Security solvent for the decades ahead, is part of President Obama's budget proposal. Here's what it would mean for benefits.
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Opinion: Opponents of Medicaid expansion put politics over people
The rejection by several Republican-led states of the Affordable Care Act’s Medicaid expansion to provide health care access to millions of America’s poor isn’t just partisan politics; it’s immoral. It’s not too late to press state leaders to put people ahead of partisanship.
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Focus
Tax reform: Why a kinder, simpler tax code eludes Congress, so farAs Tax Day nears, Americans in the throes of preparing their returns may be dreaming of a simpler tax code. Here's why tax reform is such a tall order for Congress – and how two lawmakers are laying the groundwork for it now.
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Entitlement reform takes step toward reality in new Obama budget
President Obama will unveil a budget Wednesday that includes reforms to entitlements such as Social Security and Medicare. The budget probably won't pass, but it points to a shift in the debate.
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Focus
Taming Medicare costs: What are the options?The US spends twice as much per person on health care as other advanced economies, and Medicare is one of the biggest culprits. But here's why cutting its costs won't be easy.
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Veterans groups gear up to fight any proposed changes to disability payments
To help reduce the deficit, President Barack Obama has suggested using a different measure of inflation to calculate Social Security benefits, leading to a slower growth rate. Veterans groups worry such a change could apply to disability payments.
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Student loan interest doubles in July due to Congressional inaction
The rate for subsidized Stafford loans is set to increase from 3.4 percent to 6.8 percent on July 1, due to Congressional inaction, just as millions of new college students start signing up for fall courses.
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Paul Ryan's tax numbers: Just 'magic asterisks'? (+video)
Paul Ryan's proposed budget envisions lower and simpler tax brackets even as it projects tax revenues as a higher percentage of GDP. Some suggest he'll need magic as well as math to get there.
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What's in Paul Ryan plan? Surprising numbers from GOP House budget. (+video)
The GOP budget plan Paul Ryan is putting forward in the House is filled with ambitious numbers, big and small. The bottom line: reduce the national debt and the interest payments to service it.
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Tax VOX How would Paul Ryan's tax plan work?
Paul Ryan's tax play mimics the tactics of the 2012 campaign, Gleckman writes, promising tax reform built around wildly ambitious but gauzy rate reductions without a word about how to pay for them.
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Paul Ryan's new Medicare plan could be tip of the iceberg (+video)
As Rep. Paul Ryan this week once again proposes reforms to Medicare, there are signs that others in Congress are acknowledging that Medicare deficits must be addressed.
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Life after 'sequester': Does federal budget have $1 trillion in fat to cut?
Deficit hawks say that, 'sequester' or not, federal spending needs to come down by at least $1 trillion during the next decade. But finding that money just in government waste is hard.
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'Sequester' watch: Will US spending cuts really cost 750,000 jobs?
Critics say President Obama is spinning the likely impact of 'sequester' cuts to pressure Republicans to replace them, but private-sector forecasts suggest that a loss of 750,000 jobs may not be far off.
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Tax VOX How should the government measure inflation?
Republicans and many economists argue for shifting to a more accurate inflation measure, Gleckman writes, but a new report suggests that move would raise taxes by nearly as much as it would slow Social Security spending over the next decade.
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Tax revenue to hit record this year. So is spending 'the problem'?
Tax revenue could hit $2.7 trillion, according to the Congressional Budget Office. Conservatives say this means spending cuts are the solution, but the budget numbers tell a more complicated story.
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The 'sequester' has landed: Just how 'automatic' will spending cuts be? (+video)
Department heads and agency chiefs will have some flexibility to move 'sequester' cuts between accounts and to decide their pacing. But wiggle room is limited under the law, budget experts say.
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Spending cuts: As Washington frets, Wall Street shrugs (so far)
Spending cuts set to pummel most government programs starting today so far haven't had much effect on investors. The $85 billion in across-the-board 'sequestration' cuts were expected to cause airport delays, disrupt public services and result in lower pay or layoffs for millions of government workers.
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Ben Bernanke: Bring down the federal debt, don't just 'stabilize' it
Reducing the debt-to-GDP ratio is the most important long-term fiscal policy for the US, said Fed Chairman Ben Bernanke during his semiannual report to Congress.
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Sequester 101: What happens if $85 billion in cuts hit on March 1
The sequester is a complex concept with a tortuous history. Here are the basics on the automatic spending reductions set to kick in March 1.
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Tax VOX Bowles-Simpson II: a new plan to avoid the sequester
The Bowles-Simpson framework seems a plausible alternative to the current game of sequester-and-gridlock, Gleckman writes.
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Tax VOX Spending cuts: five reasons allowing sequestration is bad policy
Spending cuts will begin to automatically take effect in two weeks, Harris writes, and allowing the sequester's automatic spending cuts to happen would be terrible policy.
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State of the Union 101: How much in Medicare cuts did Obama put on table?
Obama didn't offer as much in savings from Medicare cuts as did the Simpson-Bowles deficit reduction commission. But his State of the Union message outlined ways to shave a good chunk of change from Medicare costs. Here's how.
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