Romina Boccia and Dominik Lett
Six Reforms to Enhance Transparency and Fiscal Accountability Through the Congressional Budget Office
The Congressional Budget Office (CBO) plays a critical role in informing Congress. We can think of at least six reforms that would enhance the CBO’s role in ensuring transparency and accountability in federal budgeting.
Curbing Federal Emergency Spending: New Study Release
The key takeaway: Congress is increasingly abusing emergency designations to evade spending limits. With Congress still considering $110 billion in emergency funding for Ukraine and Israel, it is high time we recognize the fiscal and national security consequences of unpaid‐for emergency spending.
What’s Another $56 Billion in Emergency Spending?
The Biden administration is requesting another federal agency‐sized supplemental. This time, it’s $56 billion in new emergency spending for natural disasters, childcare, and high‐speed internet. With deficits in the trillions and interest rates at historic highs, Congress should stop adding fuel to the deficit fire.
Enhancing Transparency over Emergency Spending Reporting: A Call for Executive Accountability
On April 10, 2023, Congress terminated the three‐year‐long COVID-19 national emergency—one of the most expensive emergency declarations ever at more than $7 trillion in spending, as reported by the Committee for a Responsible Federal Budget and the Heritage Foundation. Whenever such emergency declarations occur, the president is required by law to submit spending reports to Congress. With respect to the COVID-19 spending, President Biden apparently has not done so.
Congress Should Restrain ‘Emergency Spending’
The Fiscal Responsibility Act’s $1.59 trillion discretionary spending cap for fiscal year 2024 has little to no bite if appropriators decide the caps shouldn’t apply by designating some spending as ‘emergency.’
Appropriations Bill Adds Fake “Emergency” Spending
Within weeks of passing new discretionary spending limits, Congress is proposing to increase deficits by abusing emergency designations to prop up agency budgets.
CBO Update
The Congressional Budget Office (CBO) just released an update to its 10‐year fiscal projections.
Fast Facts about Medicare and Social Security
Medicare and Social Security are the two largest federal government programs that are also growing the fastest.
President Biden’s Budget Misses the Mark
President Biden finally released his annual budget blueprint for fiscal year 2024, more than a month late.
The Debt Limit and the High Costs of Debt
News headlines are filled with speculations about the U.S. debt limit.