A new study published by the Mercatus Center looks at the many policy decisions that have led to Washington’s growing budget deficits. The study analyzes federal deficits from three different perspectives in order to provide a comprehensive understanding of the policy decisions that have led to our historical fiscal imbalance; the policy decisions that have created our current year deficit; and the major contributors to the deficit. Here are some top findings from the study:
Healthcare Rollout A “Question Of Competence” For Administration
Speaking at the State University of New York-Binghamton on Friday, President Obama assured the audience that there is no “urgent deficit crisis.” Meanwhile, spending remains at historic highs, economists continue to raise concern about long-term deficits, and the Congressional Budget Office is warning that if the president’s push to reverse the sequester goes through, it will increase the risk of a fiscal crisis down the road.
On July 18, Detroit became the largest U.S. city to ever file for bankruptcy. (According to Governing magazine, Detroit is one of eight cities, towns or counties that have filed bankruptcy since 2010.) The filing could have significant consequences for all taxpayers, and the problems that led to it parallel problems with federal finances as well.
The administration is reportedly spending $700 million to publicize and market the Affordable Care Act. Is this a good idea, considering the majority of people want the health law repealed?
Emily Zanotti at Naked DC takes aim at the “Raisin Administrative Committee,” which appears to be a waste of time and money that the government has been engaged in since the Great Depression.
So a bunch of politicians are scratching their heads while deciding what to do about the debt ceiling. It seems as though they have “differing projections” of how bad our budget problems are. It’s odd that after all the dire warnings about the consequences of the debt, there could still be anything other than a consensus.
Last week the U.S. House kicked off the annual appropriations process by passing the first spending bills for fiscal year 2014. What is this process, why is important, and how long will it take? We answer these questions and more in “5 Things to Know about the Appropriations Process …”
The national debt has increased nearly $1 trillion over the last year, about $3,200 (in just one year!) for every man, woman and child in the U.S.
Last week the Social Security and Medicare trustees released their annual report on the state of the two programs’ finances. Even though the reports – at more than 500 pages – are about half of the size of the average major piece of legislation passed by Congress, both are dense and full of jargon, which is why today we tell you the five things you need to know about the 2013 Social Security and Medicare trustees’ reports.