Passage of the Big Beautiful Bill will force mandatory sequestration that will mean half a trillion dollars in Medicare cuts.
Congressional Budget Office
Posted inEconomic Policy
Untangling the Government Funding Mess
Some technical errors in previous continuing resolutions now threaten a big cut to nondefense spending.
Posted inEconomic Policy
This Economy Is Breaking All the Rules—and Thriving
A COVID-driven recession with temporary inflation is now followed by a strong recovery that follows no standard models.
Posted inEconomic Policy
Death of an Economic Theory
The notion that public investment crowds out private spending has taken a beating lately.
Posted inEconomic Policy
A Spending Cap in Name Only
In our final X-Date, we note how Congress is already scheming to avoid restrictions on military spending.
Posted inEconomic Policy
CBO’s Claim on SNAP Work Requirements Is Highly Suspect
Advocates question whether new enrollees will pour into the food assistance program, given bureaucratic barriers and no additional resources for caseworkers and agencies.
Posted inEconomic Policy
Ripping Off the Invisible Straitjacket
We need better economic models, but we also need Congress to free itself from the self-imposed constraints of modeling on the policymaking process.
Posted inPolitics
Republicans’ Self-Inflicted Budget Impasse
The GOP discovers that shouting lies on television is not a good way to figure out how to tax and spend.
Posted inEconomic Policy
Rise of the Climate Rating Agencies
Government and the private sector rely increasingly on risk-modeling firms that claim they can zero in on exposure to climate change.
Posted inEconomic Policy
The Beltway’s Favorite Bogus Budget Model
The Penn Wharton Budget Model, bankrolled by finance moguls, is out to grow its power in Washington.