The presentation makes a compelling argument for the Joint Select Committee on Deficit Reduction ("Super Committee") to "Go Big" rather than going small.
For more info, visit http://crfb.org/go-big.
The non-partisan Committee for a Responsible Federal Budget (CRFB) has compiled a brief background on the scope of our nation's fiscal challenges and the drivers of our debt and deficits, while outlining some of the types of solutions available to address the problems. This Powerpoint is meant to offer an objective, easily-accessible view of our country's fiscal situation as an educational tool meant to help foster open and honest discussion about these issues.
The expanded version of our PowerPoint presentation that clearly lays out the fiscal challenge facing the United States. For more, visit http://crfb.org/go-big.
Learn about the expiring tax breaks and automatic spending cuts scheduled to take effect at the end of 2012 in the United States, including the forecasted economic impact and where Democrats and Republicans stand.
The non-partisan Committee for a Responsible Federal Budget (CRFB) has compiled a brief background on the scope of our nation's fiscal challenges and the drivers of our debt and deficits, while outlining some of the types of solutions available to address the problems. This Powerpoint is meant to offer an objective, easily-accessible view of our country's fiscal situation as an educational tool meant to help foster open and honest discussion about these issues.
The expanded version of our PowerPoint presentation that clearly lays out the fiscal challenge facing the United States. For more, visit http://crfb.org/go-big.
Learn about the expiring tax breaks and automatic spending cuts scheduled to take effect at the end of 2012 in the United States, including the forecasted economic impact and where Democrats and Republicans stand.
The Federal Budget is a financial statement comprising estimates of govt revenues and expenditure for the financial year
Check out this short and concise presentation on everything you need to know before the Indian government presents it's budget for the FY14.
To get a detailed report on the budget FY14 and to understand it's impact on stocks and sectors, register for a free account at https://www.edelweiss.in now!
This section of Solutions for America outlines the problems facing America in regards to budget control, high taxes, and excessive spending. It then offers ways to fix Medicare, Medicaid and Social Security.
The Peter G. Peterson's State of the Union's Finances: A Citizen's Guide provides a comprehensive look at America's finances. The guide is broken out in the three sections 1.) Executive Summary 2.) Our Growing Fiscal Challenge 3.) Solutions
The Federal Budget is a financial statement comprising estimates of govt revenues and expenditure for the financial year
Check out this short and concise presentation on everything you need to know before the Indian government presents it's budget for the FY14.
To get a detailed report on the budget FY14 and to understand it's impact on stocks and sectors, register for a free account at https://www.edelweiss.in now!
This section of Solutions for America outlines the problems facing America in regards to budget control, high taxes, and excessive spending. It then offers ways to fix Medicare, Medicaid and Social Security.
The Peter G. Peterson's State of the Union's Finances: A Citizen's Guide provides a comprehensive look at America's finances. The guide is broken out in the three sections 1.) Executive Summary 2.) Our Growing Fiscal Challenge 3.) Solutions
3.8 What’s at Stake: Federal Policy Decisions in 2012 and Beyond
Speaker: Liz Schott
The deficit reduction deal and further decisions made by Congress to reduce the federal deficit have made, and will continue to make, a tremendous impact on low-income housing and homeless assistance programs for many years to come. This workshop will cover the important funding decisions of the past months with an outlook on select programs for the upcoming year and beyond. Presenters will discuss ways in which advocates can make an impact at this incredibly important time to preserve and increase funding for key programs.
3.8 What’s at Stake: Federal Policy Decisions in 2012 and Beyond
Speaker: Liz Schott
The deficit reduction deal and further decisions made by Congress to reduce the federal deficit have made, and will continue to make, a tremendous impact on low-income housing and homeless assistance programs for many years to come. This workshop will cover the important funding decisions of the past months with an outlook on select programs for the upcoming year and beyond. Presenters will discuss ways in which advocates can make an impact at this incredibly important time to preserve and increase funding for key programs.
The leaders of the House and Senate Budget Committees just released their proposed budgets for FY 2014. The two lay out very different budget priorities and paths to deficit reduction. Below is a comparison of the two proposals in terms of how they treat hungry and poor people. All numbers have been calculated over a ten year period.
Presentation by Christina Hawley Anthony, Robert Arnold, and Joshua Shakin, CBO Unit Chiefs, at a joint seminar by CBO and the Congressional Research Service.
Presentation by Christina Hawley Anthony, Chief of the Projections Unit in CBO’s Budget Analysis Division, to the National Conference of State Legislatures Base Camp.
On June 14, 2010, Health & Medicine Policy Research group (HMPRG) hosted a forum, “The State’s Fiscal Crisis: Changing Our Collective Response.” With over 70 attendees, the forum explored the impact of the State’s budget and recent cuts on health and human services in Illinois. Participants heard from panel speakers about how we might collectively respond to the crisis and ensure responsible and adequate funding for education, health, and human services in Illinois. Materials from the forum can be found on the HMPRG website (www.hmprg.org)
On June 14, 2010, Health & Medicine Policy Research group (HMPRG) hosted a forum, “The State’s Fiscal Crisis: Changing Our Collective Response.” With over 70 attendees, the forum explored the impact of the State’s budget and recent cuts on health and human services in Illinois. Participants heard from panel speakers about how we might collectively respond to the crisis and ensure responsible and adequate funding for education, health, and human services in Illinois. Materials from the forum can be found on the HMPRG website (www.hmprg.org)
Updated version of our popular PowerPoint presentation that clearly and succinctly lays out the fiscal challenge facing the United States. To see what can be done about it, visit http://crfb.org/go-big
Primary Numbers: The GOP Candidates and the National Debt 02-12CRFB.org
An analysis of how the policy proposals of the four main Republican presidential candidates will impact the national debt and federal budget deficits. For more on US Budget Watch, visit http://usbudgetwatch.org/.
The 12 Principles of Fiscal Responsibility for the 2012 CampaignCRFB.org
Twelve principles for candidates to follow as they campaign in the 2012 election season to promote a substantive debate on addressing U.S. fiscal challenges.
Going Big Could Improve the Chances of SuccessCRFB.org
The Joint Select Committee on Deficit Reduction(aka the "Super Committee") would be better off going big on a deal than going small.
For more info, visit http://crfb.org/go-big.
Thought leaders from across the political spectrum discuss the need for the deficit reduction Super Committee to "Go Big" in addressing the national debt. For more testimonials and information, visit http://crfb.org/go-big.
‘वोटर्स विल मस्ट प्रीवेल’ (मतदाताओं को जीतना होगा) अभियान द्वारा जारी हेल्पलाइन नंबर, 4 जून को सुबह 7 बजे से दोपहर 12 बजे तक मतगणना प्रक्रिया में कहीं भी किसी भी तरह के उल्लंघन की रिपोर्ट करने के लिए खुला रहेगा।
01062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
El Puerto de Algeciras continúa un año más como el más eficiente del continente europeo y vuelve a situarse en el “top ten” mundial, según el informe The Container Port Performance Index 2023 (CPPI), elaborado por el Banco Mundial y la consultora S&P Global.
El informe CPPI utiliza dos enfoques metodológicos diferentes para calcular la clasificación del índice: uno administrativo o técnico y otro estadístico, basado en análisis factorial (FA). Según los autores, esta dualidad pretende asegurar una clasificación que refleje con precisión el rendimiento real del puerto, a la vez que sea estadísticamente sólida. En esta edición del informe CPPI 2023, se han empleado los mismos enfoques metodológicos y se ha aplicado un método de agregación de clasificaciones para combinar los resultados de ambos enfoques y obtener una clasificación agregada.
03062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
31052024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
An astonishing, first-of-its-kind, report by the NYT assessing damage in Ukraine. Even if the war ends tomorrow, in many places there will be nothing to go back to.
Here is Gabe Whitley's response to my defamation lawsuit for him calling me a rapist and perjurer in court documents.
You have to read it to believe it, but after you read it, you won't believe it. And I included eight examples of defamatory statements/
04062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
CLICK:- https://firstindia.co.in/
#First_India_NewsPaper
2024 is the point of certainty. Forecast of UIF experts
The Case for Going Big
1. The Case for Going Big
The Committee for a Responsible Federal Budget
2. Debt Projections under Several Scenarios
(Percent of GDP)
1991-2011 Average Deficit: 2.8%
85%
80%
2012-2021 Average Current Policy Deficit: 4.3%
75%
70%
65%
60%
55%
50%
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
CRFB Realistic Debt CRFB Realistic Debt w/ $1.5T in Savings
CRFB Realistic Debt w/ $3.0T in Savings CRFB Realistic Debt w/ $4.5T in Savings
Note: CRFB Realistic Baseline assumes all 2001/2003/2010 income and estate taxes are
extended, AMT patches, yearly “doc fixes”, and war costs continue to decline.
1
3. How Much Do We Need to Save?
In order to stabilize Debt at 65% of the economy by 2021:
(2012-2021 Savings)
Current Law
Current Policy Current Policy
Baseline Assuming
Baseline Assuming Baseline Assuming
No Super
Upper-Income Tax All Tax Cuts
Committee
Cuts Expire* Continued*
Savings
Debt in 2021 w/ No
Savings 66% 78% 81%
(% GDP)
Required Savings to
$0.3 Trillion $3 Trillion $3.9 Trillion
Stabilize Debt at 65%
*Estimates based on CRFB Realistic Baseline.
2
4. How Much Do We Need to Save? (cont’d)
In order to stabilize Debt at 70% of the economy by 2021:
(2012-2021 Savings. Negative numbers reflect increase in deficits.)
Current Law
Current Policy Current Policy
Baseline Assuming
Baseline Assuming Baseline Assuming
No Super
Upper-Income Tax All Tax Cuts
Committee
Cuts Expire* Continued*
Savings
Debt in 2021 w/ No
Savings 66% 78% 81%
(% GDP)
Required Savings to
-$0.9 Trillion $1.8 Trillion $2.7 Trillion
Stabilize Debt at 70%
*Estimates based on CRFB Realistic Baseline.
3
5. How Much Do We Need to Save? (cont’d)
So even if lawmakers were to stabilize debt at 70% of the economy in
2021—a level higher than the internationally recognized threshold of
60%—they would have to enact at least $2.7 trillion in savings beyond the
$920 billion enacted in the Budget Control Act, compared to realistic
assumptions of future debt.
That calls for a Go Big approach to debt reduction.
4
6. What Will the Super Committee Do?
8/1/2011: Super
Committee created; tasked
with finding $1.5 trillion in 12/23/2011: Congress
deficit reduction (at least must take action by then
$1.2 trillion to avoid a on Super Committee
sequester) recommendations
11/23/2011: Super
Committee must vote 1/1/2013: If Super Committee fails or
on final Congress enacts less than $1.2 trillion in
recommendations savings, automatic sequester goes into
effect to produce total of $1.2 trillion in
savings. If no savings enacted, sequester
would cut: $454 billion from defense, $294
from non-defense discretionary, $201 from
mandatory and $169 in interest
Note: Estimates of cuts from the sequester from the Congressional Budget Office.
5
7. “Go Small”: Lots of Pain for Little Gain
A smaller package would offer some
improvement to our fiscal situation, but
it would not offer the benefits of a
declining debt path
The public would see a package of tough
choices and a debt burden that continues
to grow. In essence, it would deliver
political pain with not so much gain
Would leave in place considerable policy
uncertainty, affecting businesses and
markets
A smaller package and an incremental
approach to debt reduction would not
offer the political tradeoffs necessary to
solve our fiscal challenges
6
8. What Could “Go Small” Look Like?
Possible Policy Changes Savings
Without addressing
Government-Wide $250 billion from chained CPI health care reforms or
Discretionary
$100-200 billion from modestly revenues, it will be very
slower growth in BCA caps difficult to reach the $1.2
Health Care Negligible savings trillion mandate
$150-250 billion from farm
subsidies, federal civilian and
Other Mandatory
military retirement and benefits, And even then, there is
Fannie and Freddie, and others no guarantee that
Social Security Negligible savings significant savings in
Revenues Negligible savings other areas of the budget
Net Interest $100 billion could be agreed on
Total $600-800 billion
7
9. Adding Serious Entitlement Reforms and Revenues
Pushes You into “Go Big”
Democrats will only agree to serious
entitlement reforms if there are revenues
Republicans will only agree to revenues in
the context of comprehensive tax reform
Democrats will only agree to a
comprehensive tax reform that replaces the
Bush tax cuts if it raises at least the $800
billion they would get if President Obama
vetoes extension of upper income tax cuts
Republicans will not agree to revenues
anywhere near that amount without health
savings that go beyond the $320 billion
proposed by the President
8
10. What Could “Go Really Big” Look Like?
Including serious entitlement reforms and revenues pushes the
overall savings well above the $1.2 trillion mandate
Possible Policy $600 - $800 Billion
$3 Trillion Plan $4 Trillion Plan
Changes Plan
Government-Wide $250 billion $250 billion $250 billion
Discretionary $100- 200 billion $300 billion $400 billion
Health Care Negligible savings $650 billion $900 billion
Other Mandatory $150 - $250 billion $350 billion $350 billion
Social Security Negligible savings $150 billion $300 billion
Revenues Negligible savings $850 billion $1.2 trillion
Net Interest $100 billion $450 billion $600 billion
Total $600 - $800 billion $3 trillion $4 trillion
Note: $4 trillion plan is a more ambitious version of the types of reforms in
the $2.8 trillion plan.
9
11. Advantages of “Go Big”
Debt stabilized and falling as a share of
the economy later in the decade, and
all the benefits associated with
declining debt burden:
Less “crowding out” of private sector
investment
Stronger confidence in businesses and
markets
Greater certainty and stability
Stronger economy over the long-term
Lower interest payments and increased
fiscal space
Intergenerational equity
Reduced or eliminated risk of fiscal
crisis
10
12. Advantages of “Go Big” (cont’d)
Increased chances of Super Committee
success in recommending at least $1.2
trillion in savings:
Political trade offs necessary to address
entitlement growth and revenues
Shared sacrifice in Go Big approach
Realize the gains of debt reduction by
stabilizing and reducing the debt, and
not just making difficult decisions that
solve only part of the problem
Restore America’s faith in the political
system
11
13. “Go Big”: Shared Sacrifice
Expanding the size and scope of a package can promote a sense of shared
sacrifice on behalf of the American public and key interest groups, making it more
likely that they would accept changes if everyone was contributing to the solution.
An incremental approach would allow advocates for parts of the budget to argue
that they are bearing an unfair burden. A Go Big approach which achieves savings
in all parts of the budget neutralizes that argument.
In a recent Washington Post op-ed, Fiscal Commission co-chairs Erskine Bowles
and Alan Simpson highlighted this lesson from the Fiscal Commission
deliberations:
“The more comprehensive we made it, the easier our job became. The tougher
our proposal, the more people came aboard. Commission members were
willing to take on their sacred cows and fight special interests — but only if they
saw others doing the same and if what they were voting for solved the
country’s problems.”
12
14. The Time for Action Is Now
Looking to the Super Committee…
A Go Big approach to deficit reduction is what the country
needs to put debt on a stable and declining path and to
restore confidence in the U.S. economy and political system.
But a Go Big approach can also improve the Super
Committee’s chances of achieving at least $1.2 trillion in debt
reduction.
13