The Campaign to Fix the Debt was launched two years ago today on July 17, 2012. In that short period of time a lot has happened and some progress has been made in getting America’s finances under control. Yet, we were recently reminded that there is still a great deal of work to be done to put the country on a sound course.
The Committee for a Responsible Federal Budget released a paper Monday called, “The Budget Act at 40: Time for a Tune Up?” The CRFB paper focused on structural weaknesses of the Budget Act, dividing the problems into three areas: lack of transparency, accountability, and long-term focus. Similar concerns were echoed at a panel discussion hosted by the Bipartisan Policy Center on Tuesday, “The Budget Act at 40: Midlife Crisis?”
Just as we were getting good news about falling deficits, a new report demonstrates that looking further out tells a much different story.
We may not think as much about how high national debt affects us and our families directly. The fact is that the personal impact is quite significant.
Congress returns to a full plate of business and little time. Will lawmakers empty the coffers to buy breathing space?
- Two Years of Progress, but Still Work to Do 07/17/2014
- CRFB Paper, BPC Panels Agree Budget Act Needs a Tune-Up 07/16/2014
- CBO Looks at the Long Term 07/15/2014
- How the National Debt Affects You 07/10/2014
- Low on Time, Stakes are High 07/08/2014