Budget, Debt, and Deficits


Obama Budget Ducks Spending Cuts

Authors: Benn Steil and Paul Swartz
Financial News

Benn Steil's April column in Dow Jones' Financial News, co-authored with Paul Swartz, argues that the White House OMB's growth forecasts are systematically biased upwards, and that using the lower private or CBO growth assumptions results in about $1.75 trillion more debt over the next ten years than is implied by the president's recent budget.

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Must Read Author: John Cranford

John Cranford of Congressional Quarterly writes that increases to the ceiling on federal debt have become highly partisan affairs. If Republicans are united in their intent to use the debt limit to demand tough spending constraints, then brinkmanship, not compromise, may be the driving force behind this year's Congressional vote.

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Must Read Author: James Bickley

Due to an increasing U.S. Federal government deficit many groups now argue for the institution of a national value-added tax (VAT) to increase government revenue. James M. Bickley of the Congressional Research Service examines the plausibility of enacting such a plan.

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An Rx for Debt Reduction?

Peter R. Orszag interviewed by Roya Wolverson

Cutting the federal deficit is seen as essential for reviving the country's economic standing. CFR's Peter Orszag looks at some of the pros and cons of recommendations by a presidential commission's co-chairs to cut more than $3.8 trillion from national deficits.

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