Official account of The Moment of Truth Project chaired by Erskine Bowles and Al Simpson continuing the work of the Simpson-Bowles Fiscal Commission
Joined March 2011
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The Moment of Truth retweeted
The House plans to vote on the $1.9 trillion #COVID19 relief package late tonight. See the how it emerged from several committees crfb.org/blogs/whats-19-tril….
The Moment of Truth retweeted
The House plans to vote today on the latest #COVID19 relief package. See five ways it could be improved crfb.org/blogs/five-ways-imp….
President Joe Biden's $1.9 trillion plan to combat the COVID-19 pandemic, including $1,400 personal checks, is likely to get closer to becoming law Friday – but it's about to get a rude welcome in the divided Senate.usatoday.com/story/news/poli…
The Moment of Truth retweeted
Addressing the current crisis is the priority, but national debt will rise to record levels in the years to come. Policymakers will need to confront this when the economy recovers. See crfb.org/papers/analysis-cbo… and crfb.org/blogs/cbo-releases-….
The Moment of Truth retweeted
Fmr CEA Chair Greg Mankiw in @nytimes: "According to the Committee for a Responsible Federal Budget, the fiscal packages already in place, measured as [a share of GDP], are about a quarter larger than those enacted during the Great Recession of 2008." nytimes.com/2021/02/26/busin…
The Moment of Truth retweeted
See what's in the #COVID19 bill the House will vote on this week crfb.org/blogs/whats-19-tril…
The House Budget Committee approved reconciliations to President @JoeBiden’s proposed $1.9 trillion novel #coronavirus relief legislation Monday, setting in motion the bill’s final vote in the full House of Representatives expected to follow this week.
bit.ly/3dHfJBx
The Moment of Truth retweeted
As lawmakers deliberate on a new COVID relief package, here are some principles they should follow crfb.org/press-releases/buil….
The Moment of Truth retweeted
There are risks if too much stimulus is injected into the economy. Policymakers should consider what could happen if a COVID package overshoots the mark crfb.org/blogs/how-much-woul….
The Moment of Truth retweeted
The latest projections from the nonpartisan Congressional Budget Office show that rising national debt will need to be addressed after the economy is strong again. See our analyses of the 10-year and long-term budget outlook crfb.org/papers/analysis-cbo… & crfb.org/blogs/cbo-releases-….
The Moment of Truth retweeted
Congress faces a series of fiscal deadlines this year that will force lawmakers to act on critical matters. See more deadlines at crfb.org/blogs/upcoming-cong….
The Moment of Truth retweeted
Former U.S. Comptroller General David Walker: "We must do what we can to address the challenges of today while also taking steps to help create a better tomorrow." thehill.com/blogs/congress-b…
The Moment of Truth retweeted
"We shouldn’t shy away from borrowing what’s needed to end this pandemic, support the recovery, and help sustain households and businesses through this crisis. But along the way, we can’t afford to ignore the long term." crfb.org/press-releases/cbo-…
The Moment of Truth retweeted
"Maya MacGuineas, president of the Committee For a Responsible Federal Budget said the CBO data argues in favor of a more targeted stimulus approach and “serious pay-fors” for infrastructure." reuters.com/article/us-usa-f…
The Moment of Truth retweeted
As Congress considers additional #COVID19 relief, here are some principles to guide lawmakers crfb.org/press-releases/buil….
The Moment of Truth retweeted
Hot off the presses: Our full analysis of today's CBO budget outlook. One tidbit: CBO projects the deficit will total $2.3 trillion (10.3% of GDP) in 2021, fall to a low of $905 billion (3.6%) in 2024, and grow to $1.9 trillion (5.7%) in 2031 crfb.org/papers/analysis-cbo….
The Moment of Truth retweeted
From our preliminary look at the new CBO budget baseline:
National debt will be slightly lower than projected late last year, but will still reach a record of 107% of GDP by 2031 crfb.org/blogs/cbo-releases-….
Stay tuned for a deeper dive later today.
The Moment of Truth retweeted
This is a great visual analysis using #COVIDMoneyTracker data. Dig even deeper using our interactive tool covidmoneytracker.org/.
Comparing the Biden plan with an alternate proposal by 10 Senate Republicans, and with the $3.4 trillion that has already been enacted over the past year.
nyti.ms/3cYj7aV
The Moment of Truth retweeted
Have you RSVPd for our timely virtual event Thursday featuring experts discussing budget reconciliation? If not, register now. RSVP form and details at secure.everyaction.com/g9msP….
The Moment of Truth retweeted
There are key differences between the #COVID19 plans from Pres. Biden and a group of GOP senators. We just published a detailed comparison. See how the plans stack up crfb.org/blogs/president-bid…
The Moment of Truth retweeted
NEW: Building a Responsible COVID Relief Package
We should spend what's necessary to end the pandemic, but a new relief package should be targeted for true economic and health care needs. Measures unrelated to the crisis should be removed or paid for.
crfb.org/press-releases/buil…
The Moment of Truth retweeted
Budget reconciliation is in the spotlight. What can be done through it? What can't? We're hosting an expert virtual panel discussion THIS THURSDAY featuring our @MarcGoldwein, @econwonk of @ThirdWayEcon and @FiatSlugz of @ConcordC. Learn more & RSVP today secure.everyaction.com/g9msP….
