Budget Matters Blog

Category: Debt & Deficit

Three Dangerous Myths About the Debt Ceiling

Why should you care about the debt limit? Here's a look at some of the debt ceiling myths making the rounds and what you can do about it.

Congress Returns to Syria, Potential Shutdowns, and Dysfunction

Congress returns from August recess this week, and they face a busy fall. In addition to a vote on Syria, there are two looming issues that could result in a government shutdown if they’re not resolved in the next few weeks. No Federal Budget U.S. fiscal year 2013 will end ...

Immigration Reform Would Save Uncle Sam $197 Billion Over Next 10 Years

According to a report just released by the Congressional Budget Office, the Senate’s comprehensive immigration reform bill would reduce federal budget deficits by $197 billion over the next decade.

Extra Cash Pushes Debt Ceiling Deadline to September

A better-than-expected cash flow at the U.S. Treasury has turned May 18 into just any old day.

Top 5 Things to Know About President Obama's 2014 Budget

Today President Obama released his fiscal 2014 budget proposal, which set a record for arriving two months after the legal deadline of the first Monday in February. Here are the top five things to know about the new budget.

See Where Your Taxes Went

Taxes are due on April 15 – right around the corner – though few Americans know where their taxes actually go. So NPP is launching Tax Day 2013 – a suite of materials, including this chart that shows how Washington spent every one of your income tax dollars in 2012.

The President’s State of the Union Address

  Article II of the U.S. Constitution states that the president "shall from time to time give to the Congress information of the State of the Union."While the date is not specified by the Constitution, traditionally the State of the Union takes place in late January. This year President Obama ...

Avoiding the Next Fiscal Cliff: The Debt Ceiling

Good news came at the end of last week, and it's something that will affect you and your neighborhood. Speaker of the House John Boehner said the House would vote on a three-month increase to the debt ceiling in order to give lawmakers time to pass a more comprehensive budget deal.

Why Is Congress So Dysfunctional? (Answer: It's a "Fact-Free Zone")

This country is desperately in need of facts. That was the overwhelming message I took away from two exciting things that happened last week. First, there was a national conference for No Labels. The second event was at the New York Public Library, where I spoke about A People's Guide to the Federal Budget.

The "No Budget, No Pay" Debt Ceiling Deal

On January 23 the Housed passed legislation to deal with the debt ceiling – the legal limit Congress places on its own borrowing. If the federal debt reaches the debt ceiling, the government is unable to borrow additional funds to support continued operations, triggering a government shutdown and default on ...