Deeper into Debt

The new request for military funding will put us another $25 billion in debt - still no revenue solution in sight.

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No Budget Resolution

Whether or not tax cuts must be offset - that is the question.

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CBO Account-level Data on Government Spending, 2005-2014

The 2005 Budget submitted by the president last week contained only partial information for spending over the next 5 years. The Congressional Budget Office (CBO) has since developed estimates of costs contained in the president's FY2005 budget covering the period from 2005 to 2014.

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Economy and Jobs Watch: Taking the Long View

Current economic policy is becoming unsustainable. Current and projected federal deficits are reaching the point where many economic commentators worry about the long-run viability of current policy.

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Congress Slow to Extend Unemployment Benefits

Unemployed workers may face another bleak holiday unless Congress passes legislation extending benefits.

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Congress Moves to Fund Efforts in Iraq & Afghanistan

The president's request for $87 billion seems to be on the way to final passage.

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Appropriations and Emergency Supplemental

Update on the President's emergency supplemental appropriation for Iraq and Afghanistan and the status of the remaining regular appropriations.

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Cost of War

Cost of War .com

The President is asking for an additional $87 billion for Iraq. 87 billion is in some ways an inconceivably large number. CostofWar.com is tracking the ongoing cost of war/reconstruction in Iraq and translating the numbers into forgone opportunities. For example - well over 1 million four-year college scholarships could be funded with the current war costs.

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Budget Schedule

The incoming Director of Budget and Appropriations Issues for Sen. Trent Lott (R-MS), G. William Hoagland, recently gave a briefing to states about the upcoming budget. Included in this piece are some points from that briefing and other reports, as well as a tentative schedule for completing work on the FY 2003 budget and beginning the FY 2004 budget work.

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CBO 10-Year Budget Update Shows $5.6 Trillion Surplus Now Only $1.0 Trillion

The Congressional Budget Office’s (CBO) annual "Budget and Economic Outlook: An Update," released on August 27, reports federal budget deficits through the end of 2005 and a relatively modest 10-year total surplus and has added more fodder to the debate in Washington over who’s to blame for the $5.4 trillion drop in the 10-year surplus forecast since January 2001.

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