Downsizing Blog
Stabilizing Debt at 100% of GDP
Federal debt and interest costs are headed toward levels never seen in our nation’s history.
Independence in 1776; Dependence in 2023
Federal government spending is soaring and debt will soon reach record highs compared to the size of the economy. Rising spending and debt are undermining growth and may push the nation into a financial crisis.
For Spending Cuts, How about the EDA?
Both the Reagan and Trump administrations proposed eliminating the EDA. House Republicans should take another shot at reform.
Biden‐McCarthy Deal a Modest Start
Congress is considering the Biden‐McCarthy debt‐reduction deal. The Fiscal Responsibility Act of 2023 would reduce deficits by $1.5 trillion over the coming decade. The reduction would be a start at righting the federal government’s fiscal ship, but just a small start.
FBI Budget
The Federal Bureau of Investigation (FBI) is in the news with the release of the Durham report and this week’s testimony in the House about the agency’s politicized leadership.
IRS Funding
The Inflation Reduction Act (IRA) of 2022 included $79 billion in added funding for the Internal Revenue Service (IRS) over the coming decade.
CBO Update
The Congressional Budget Office (CBO) just released an update to its 10‐year fiscal projections.
Stabilizing Government Debt
A new CBO (Congressional Budget Office) report and a Treasury letter by Secretary Janet Yellen now estimate the debt ceiling may bind as soon as June 1st.
Food Stamps and Obesity
Congress is scheduled to reauthorize the Farm Bill this year, the largest part of which is the $127 billion Supplemental Nutrition Assistance Program (SNAP).
Nutrition: A Government Fail?
Americans are getting used to failures by government experts.