To address both the near- and longer-term issues, the Congress and the administration should consider replacing the sharp, front-loaded spending cuts required by the sequestration with policies that reduce the federal deficit
more gradually in the near term but more substantially in the longer run," Bernanke said.
And most of the GOP ideas for reducing the federal deficit
have to do with cutting government costs, and thus jobs, in both the public and private sectors.
The federal deficit
diverts billions of your tax dollars to interest payments.
And the concern becomes greater as the federal deficit
Bush's budget proposal, just as the CBO was increasing its projection for the federal deficit
this year by 24% to $246 billion.
Despite his deficit-fighting rhetoric, the federal deficit
and debt had in fact monstrously ballooned out of control during Mulroney's years in power.
7 trillion national debt or to save towards meeting Social Security obligations, the House bill could increase the current operating federal deficit
by 58 percent and risks converting a projected annual federal budget surplus in the next decade into an annual deficit of as much as $140 billion within a decade.
Underlying that agreement is the broadly shared view among economists and policymakers that eliminating the federal deficit
would yield wide-ranging economic benefits to the U.
The balance of the funds raised by the tax would be used to reduce the federal deficit
2 With all the talk about balancing budgets, neither candidate was willing to confront the demographic time-bomb that will explode the federal deficit
early in the next century when the post-world War II `baby boom' generation starts to draw on social security, medicare and other state benefits.
Ironically, a large part of our federal deficit
resulted from the inefficient military spending of the Reagan and Bush years; we now spend nearly 10 percent more in real terms on the military than we did in 1980, and if the Republicans have their way, this will grow even more out of proportion.
Faced with the need to cut our federal deficit
and national debt, we do not need to further bloat government bureaucracy, especially by feeding it garbage.