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This morning the Congressional Budget Office (CBO) released its updated budget outlook for fiscal years 2014-2024. This report includes new projections on the country’s deficits as well as updated estimates of the effects of the president’s new healthcare law.
After a long battle, the farm bill conference report was released Monday and passed in the House on Wednesday by a vote of 251-166. The farm bill conference committee began negotiations in October 2013 after the House and Senate passed two separate and conflicting versions of a farm bill.
The numbers say it all: Washington has spent its way into a fiscal crisis. This unsustainable habit will have consquences on future generations unless Congress can work together and enact lasting change.
Just weeks after Christmas, the new toys and gadgets we received can start to lose their luster. Likewise, Washington starts each year with fresh promises of fiscal responsibility and accountability that quickly fade.