The Fiscal & Economic Challenge
Discover why our fiscal health and economic strength are so closely tied, and why it is important to get the deficit under control and work toward a balanced budget.
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Discover why our fiscal health and economic strength are so closely tied, and why it is important to get the deficit under control and work toward a balanced budget.
Let’s look at the trends in discretionary spending and how effective caps are in reducing the debt.
https://www.pgpf.org/blog/2023/06/what-are-discretionary-spending-caps-and-do-they-work
The current budget process is ill-suited for managing the nation’s long-term fiscal affairs. Learn about possible reforms to reimagine the budget process.
https://www.pgpf.org/finding-solutions/budget-process-reforms
The Byrd Rule restricts what can be included in reconciliation legislation in the Senate.
Earmarks have been controversial, but nevertheless were reinstated by Congress in 2021 after a 10-year moratorium.
“Voters are deeply concerned about the rising national debt, and tonight’s presidential debate is an important opportunity for the candidates to talk about their plans to stabilize our future," said Michael A. Peterson.
https://www.pgpf.org/press-release/2024/06/fci-press-release
The economy goes through cyclical movements over time, with periods of growth followed by downturns. To help improve responsiveness to fluctuations in the business cycle, a number of important programs in the federal budget automatically increase or restrain spending depending on economic conditions.
https://www.pgpf.org/budget-basics/what-are-automatic-stabilizers-and-how-do-they-affect-the-budget
Tax reform done right would promote economic growth, make our fiscal outlook more sustainable, reduce the complexity and burden of compliance, and increase the system’s transparency and fairness.
Here are principles for reform to help ensure that our budget process is conducive to fiscally responsible policymaking.
What is a balanced budget amendment to the Constitution, and how would it work in practice?
https://www.pgpf.org/budget-basics/balanced-budget-amendment-pros-and-cons