After more than a decade of war and several years of a deep financial crisis, many Americans are asking whether the country should focus more of its attention—and more of its resources—at home. That said, the impulse to lead is still strong in both political parties and most polls show that Americans still feel both a moral and strategic imperative to remain fully engaged in the world.
American policymakers have long been concerned about the eroding U.S. advantage in educating science, technology, engineering, and math (STEM) students. With much of the assembly work for lucrative high-technology products having moved to Asia, future U.S. prosperity depends increasingly on innovating new products and techniques—innovation that requires training (or importing) a new generation of scientists and engineers.
Senator Patty Murray, Senate Budget Committee Chairman, presented this document, "Foundation for Growth: Restoring the Promise of American Opportunity," at the mark-up of the concurrent resolution on the budget for FY 2014, on March 13, 2013. See also the House Budget Committee budget for FY 2014, presented by Congressman Ryan.
Congressman Paul Ryan, Chairman of the House Budget Committee, presented this document, "Path to Prosperity: A Responsible, Balanced Budget," on behalf of the House Budget Committee on March 12, 2013. See also the Senate Budget Committee's proposal, presented by Senator Patty Murray.
Peter Orszag argues that reforming medical malpractice law to include "safe harbors" that protect doctors who follow evidence-based medical guidelines could bring down health-care costs without reducing the quality of care.
As the Pentagon attempts to refocus the U.S. military strategy toward Asia, the department is facing major budget constraints. Experts disagree on how to balance the fiscal challenge with the country's national security priorities.
Former co-chairs of the President's bipartisan National Commission on Fiscal Responsibility and Reform Erskine Bowles and Alan Simpson proposed a new deficit reduction plan on February 19, 2013, through their organization Moment of Truth. Their plan projects reductions by $2.4 trillion over the next decade, with cuts to Medicare, Medicaid, Social Security, and discretionary spending, and ending or curbing deductions and tax breaks.
Peter Orszag finds good news about health care costs in the latest budgetary and economic projections released by the CBO, but he cautions that the outlook for unemployment and federal spending is still gloomy.
The Congressional Budget Office (CBO) released its yearly Budget and Economic Outlook report on "'baseline' budget projections spanning the next 10 years. Those projections are not a forecast of future events; rather, they are intended to provide a benchmark against which potential policy changes can be measured." The report covers 2013-2023.
This public law (H.R. 325) was approved on February 4, 2013, and states that if Congress does not agree to a concurrent resolution on the budget for fiscal year 2014, Congress will not be compensated until they do agree to a budget resolution.
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