On Tuesday the White House unveiled its Fiscal Year 2015 federal budget proposal. There are positive aspects that further deficit reduction and responsible budgeting as well as drawbacks.
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05 March 2014 - On Tuesday President Obama released his Fiscal Year 2015 federal budget proposal. As those recovering from the festivities well know, it was also Fat Tuesday. Unfortunately, politicians making budget decisions have not received the message that the party is over.
05 March 2014 - On Tuesday the White House unveiled its Fiscal Year 2015 federal budget proposal. There are positive aspects that further deficit reduction and responsible budgeting as well as drawbacks.
03 March 2014 - President Obama will unveil his Fiscal Year 2015 budget request on Tuesday, about a month later than required by law. In anticipation of the release, Fix the Debt offers seven things we would like to see in the budget in order to put the country on a sustainable fiscal course.
26 February 2014 - On Wednesday, House Ways and Means Committee Chair Dave Camp (R-MI) unveiled a discussion draft of legislation to revamp the federal tax code. The proposal is a promising development that hopefully will spur bipartisan engagement on an issue critical to promoting economic growth and fixing the debt.
25 February 2014 - When it voted to lift the debt ceiling, Congress also repealed reductions to the military cost-of-living adjustment (COLA) for working age retirees that was originally included in the Ryan-Murray budget deal. The change now only applies to service members beginning this year and later. The change was a step back in addressing our long-term fiscal challenges.
21 February 2014 - It was reported Thursday that the president’s fiscal Year 2015 budget request due to be released on March 4 will not include a proposal to institute a more accurate gauge of inflation that was included in last year’s budget submission. The decision to backtrack underscores the election-year political calculus that will likely preclude substantive action on any important issues this year.
20 February 2014 - The Winter Olympics in Sochi, Russia are winding down this week, but the games in Washington will continue. Politicians on both sides of the aisle are trying to outdo each other with increasingly outrageous budget tricks.
16 February 2014 - The House and Senate both agreed on suspending the statutory debt limit until next year. While lawmakers did the minimal necessary, it did nothing to improve the unsustainable debt outlook.