• Friday, August 26, 2016 - 13:25


    --Lawmakers Mull Over Several FY 2017 Funding Options
    --Duration, Terms of Stop-Gap Still Uncertain

    WASHINGTON (MNI) - As the summer winds down, Labor Day nears, and Congress's return to Washington approaches, there are a number of scenarios swirling around Capitol Hill about how Congress and the White House will keep the government funded into the next fiscal year.

    While there are no shortage of creative ideas percolating among lawmakers and congressional staff, there is also no final decision about how to keep the government running after the 2017 fiscal year begins on October 1.

    So far, the House and Senate Appropriations committees have passed all 12 of their FY 2017 spending bills.

  • Wednesday, August 24, 2016 - 13:15


    --Budget Groups Say CBO Report Shows Dire Fiscal Future
    --Fiscal Groups: Deficits, Debt Must Be Campaign Issue

    WASHINGTON (MNI) - Several leading budget watchdog groups are seizing on a report released Tuesday by the Congressional Budget Office as compelling evidence that the U.S.'s fiscal future will be grim unless spending and tax reforms are crafted and enacted by policymakers.

    On Tuesday, the CBO reported it expects federal budgets deficits to rise from $438 billion in the last fiscal year to $590 billion in the 2016 fiscal year and $594 billion in FY 2017.

    In its mid-year budget and economic report for the FY 2016 to FY 2026 period, the CBO estimates deficits of $520 billion in FY 2018, $625 billion on FY 2019, $714 billion in FY 2020, $806 billion in

  • Tuesday, August 23, 2016 - 14:45


    --CBO Report Sees 2% Growth in 2016, 2.4% in 2017
    --CBO Expects PCE Price Index Of 1.5% in '16, 2% in '17
    --CBO Project $3.258T in Cumulative Deficits, FY17-21

    WASHINGTON (MNI) - The Congressional Budget Office said Tuesday it expects federal budgets deficits to rise from $438 billion in the last fiscal year to $590 billion in fiscal year 2016 and $594 billion in FY 2017.

    In its mid-year budget and economic report for the FY 2016 to FY 2026 period, the CBO estimates deficits of $520 billion in FY 2018, $625 billion on FY 2019, $714 billion in FY 2020, $806 billion in FY 2021, $954 billion in FY 2022, $988 billion in FY 2023, $1 trillion in FY 2024, $1.128 trillion in FY 2025, and $1.243 trillion in FY 2026.

    For the FY 2017 to FY 2021 period, the CBO project

  • Tuesday, August 23, 2016 - 12:16


    --House Budget Panel Chief Issues Statements, Videos
    --Republican Staff Releases Three Working Papers

    WASHINGTON (MNI) - While much of Capitol Hill has been quiet during this summer's prolonged congressional recess, the House Budget Committee has been a beehive of activity, issuing a flurry of videos, written statements, and policy papers.

    The apparent purpose of this deluge of messages is to brand the House Republican caucus as the epicenter of fiscal reform.

    In a video released Tuesday, House Budget Committee Chairman Tom Price calls for fundamental reform of Medicaid, arguing that states should be given far more latitude to structure their programs to deal with the needs of their Medicaid recipients.

    He argues the Medicaid program was created to en

  • Monday, August 22, 2016 - 12:45


    --CBO's Mid Year Report To Include New Deficit Estimates
    --White House Has Estimated FY 2016 Deficit To Hit $600B

    WASHINGTON (MNI) - The Congressional Budget Office will release Tuesday afternoon its updated economic and budget projections and these are likely to help shape the autumn campaign debate on the state of the American economy and the health of the nation's fiscal policy.

    The CBO will release its report Tuesday at 2.m. ET.

    The report will update CBO's economic and budget projections for the the fiscal year 2016 to FY 2026 period.

    In January, the CBO released its initial economic and budget report for this period.