Fiscal Policy in the News

Event Recap: The 2014 Fiscal Summit

The Peter G. Peterson Foundation held its 2014 Fiscal Summit today, bringing together a number of current and former policymakers, experts, commentators and other prominent figures to discuss the nation's fiscal challenges. 

Marcus: Silence on Fiscal Issues in SOTU is Regrettable

In an op-ed in the Washington Post, columnist Ruth Marcus laments the lack of discussion of fiscal issues in President Obama's State of the Union address.

Erskine Bowles to Kiplinger: Beware the Ticking Debt Bomb

Today, Kiplinger's Personal Finance published a new interview with Fiscal Commission co-chair and CRFB board member Erskine Bowles. In a discussion with editor Janet Bodnar, Bowles argues that despite modest improvements in our country's fiscal outlook, we still face a crisis unless lawmakers deal with the long-term drivers of the national debt.

WaPo: A Flawed Deal is Better Than No Deal

So far, reactions to the budget agreement have been mixed. As we said in our report yesterday, Understanding the Bipartisan Budget Act, the deal replaces short-term savings in sequestration with smarter, permanent savings from mandatory savings and user fees, a positive development. But it largely pushes the big decisions down the road.

GAO Explains the Debt

The Government Accountability Office, the investigative arm of Congress, posted a short educational video explaining the national debt today. In a short time period, it explains the difference between gross debt and debt held by the public, why debt is measured as a percent of GDP, and why the long-term debt situation is troubling.

The video is a good educational resource for the basics of federal debt.

Larry Fink: Washington Needs to Prove the Political System Still Works

As the dust begins to clear from this month's political battle over the debt ceiling and government shutdown, there have many reports of businesses waiting to make key investments until political stability returns. Today, in a new op-ed in the Financial Times, BlackRock CEO and Chairman Larry Fink notes the partisan wrangling in Washington may been doing real, lasting damage by weakening investor confidence in the stability of our political system.

Marc Goldwein: Hard Choices Required to Address Looming Debt

The prolonged government shutdown and debt ceiling debate are a clear indication that our government is not functioning as it should. Furloughed workers, closed national parks, and shuttered government offices are the byproduct of an unwillingness to compromise by our elected officials.

Marc Goldwein: Don’t Believe the Myth That Debt Problem is a Myth

With the recent improvement in medium-term budget projections, some are trying to advance the myth that our debt problems have been solved. But as we've shown before, lawmakers still have a great deal of work left to do to put the budget on a sustainable path.

The Economic Cost of the Shutdown

As we enter day 2 of the government shutdown, Americans across the country are already feeling the impact. With federal government offices and services shut down throughout the nation, thousands of government employees are furloughed, and there is no clear answer in sight regarding when they will return to work. But what damage will a shutdown do to the economy?

Q&A: Everything You Should Know About the Debt Ceiling

While it is incredibly disappointing that elected officials in Washington failed to avoid a government shutdown, attention is quickly turning towards raising the federal debt ceiling, which currently stands at $16.699 trillion.

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