Dynamic Scoring and Congress
One of the 114th Congress’ first moves was to open discussion on dynamic scoring. On January 6, 2015, the House of Representatives adopted a rule change that would require all legislation to be dynamically scored.
Government Spending Crowds the Private Sector Out and In
Most people assume that increased government spending aids the economy and that cuts in spending will hurt it. Even more fear that government spending cuts might push the economy into a recession. These notions are based on the Keynesian belief that the economy is driven by demand.
How Much Does the Federal Government Owe?
The U.S. government faces severe fiscal challenges due to trillion dollar annual budget deficits and mounting public debt. But the liabilities are much larger than the public debt, due to commitments the government has made to federal employees, to veterans and to seniors. In addition, it has made explicit and implicit commitments to current workers and retirees through the Social Security and Medicare programs.
How Large Is the Federal Government's Debt?
Social Security and Medicare have made future promises far in excess of tax revenues that will be collected at current tax rates. The difference between what has been promised to current and future generations and what will be collected from taxes dedicated to fund these programs is an "unfunded liability."
Government Spending on the Elderly: Social Security and Medicare
Social Security and Medicare will begin paying out more in benefits than they collect in payroll tax revenues. As a result, taxes will have to rise.
Public Spending And Social Progress
Over the past century, government spending grew to an average of 45 percent of gross domestic product (GDP) among developed countries. Today, total government spending in the United States and other developed countries far exceeds the level at which it increases national income. This study examines the effects of government spending on certain noneconomic measures of social progress.
Putting Drivers in the Driver's Seat
Auto Choice, a proposed structural reform of the country's fraud-ridden $150 billion per year auto tort system, is quietly gaining broad bipartisan endorsement. Its supporters already include Democratic Sens. Daniel Patrick Moynihan of New York and Joseph Lieberman of Connecticut, Republican Sens. Mitch McConnell of Kentucky and Kay Bailey Hutchison of Texas and House Majority Leader Dick Armey (R-Texas).
10 Guidelines for Insuring Children
The 1997 budget agreement includes a provision giving the states $24 billion over five years to provide health insurance to uninsured children from low-income families – basically those in families with incomes below 200 percent of the poverty level, not eligible for Medicaid, not enrolled in a health plan or covered by health insurance.
One Last Chance For KidCare
As part of the recent budget agreement, President Clinton and Congressional leaders agreed to spend $16 billion over the next five years on health insurance for children. Now the question facing Congress is: What's the best way to spend the money?
Economic Impact Of Government Spending: A 50-State Analysis
Econometric studies cast serious doubt on the benefit of most government spending. They show little relationship between most government spending – including education and highways- and economic growth.
Bush vs. The Congressional Democrats: Whose Tax Plan Is Better?
In his State of the Union message, President Bush proposed a new tax package which he said would promote economic growth and create jobs. With unusual assertiveness, he gave Congress one month to enact his package.
How to Stimulate Economic Growth and Reduce the Deficit at the Same Time
President Bush and congressional leaders have agreed that any new budget package must contain incentives for investment and capital formation. The overriding reason for the budget summit is to reduce the federal deficit, however. This backgrounder addresses ways of achieving both goals.
The R.E.A.L. Federal Dificit
This year total direct and indirect borrowing by the federal government will reach $324 billion–over $100 billion more than what is reported by the "official" federal deficit.
Off Budget Spending: The Growth of Underground Government
The distinguishing characteristic of the welfare state is that, over time, the distribution of wealth and the allocation of resources in a society are increasingly controlled by government rather than voluntary exchange in the marketplace.
The Nation's Largest Municipal Bankruptcy: The Tip Of The Off-budget Iceburg
A recent article in Fortune magazine has the eye-catching title "Nuclear Fiasco Shakes the Bond Market." The fiasco is not a melt down, but what the article describe as the "squalor and fantastic waste" of the Washington Public Power Supply Steam.