Concord Coalition

Dismal Budget Outlook Calls for Urgent Action

Retrieved on: 
Wednesday, March 20, 2024
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WASHINGTON , March 20, 2024 /PRNewswire/ -- The Concord Coalition said today that the Long-Term Budget Outlook for 2034-2054, released by the Congressional Budget Office (CBO), is a grim reminder that political leaders have utterly failed to deal with known imbalances in the federal budget.

Key Points: 
  • WASHINGTON , March 20, 2024 /PRNewswire/ -- The Concord Coalition said today that the Long-Term Budget Outlook for 2034-2054, released by the Congressional Budget Office (CBO), is a grim reminder that political leaders have utterly failed to deal with known imbalances in the federal budget.
  • We have increased spending, cut taxes, and burdened the future with an unprecedented level of debt.
  • The main factors contributing to CBO's dire outlook are well known: population aging, rising healthcare costs, slowing workforce growth, and spiraling interest on the debt.
  • The share of the population aged 65 and older will grow from 17.8 percent this year to 22.3 percent in 2054.

President Biden's Budget Sets Plausible Goal With Implausible Means

Retrieved on: 
Monday, March 11, 2024
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Moreover, the goal is based on a set of optimistic long-term economic assumptions and unlikely policy outcomes that, if not achieved, would result in far less deficit reduction than projected by the administration.

Key Points: 
  • Moreover, the goal is based on a set of optimistic long-term economic assumptions and unlikely policy outcomes that, if not achieved, would result in far less deficit reduction than projected by the administration.
  • Concord Coalition executive director Robert L. Bixby stated:
    "The president's budget sets a plausible deficit reduction goal using implausible means for achieving it.
  • Heavy reliance on tax increases to pay for new spending and the absence of any meaningful mandatory spending reductions make the president's budget "dead on arrival" with Republicans on Capitol Hill.
  • There must either be compromise on meaningful deficit reduction options or acquiescence in an unsustainable fiscal path.

The Concord Coalition Releases 'Key Questions' for Voters to Ask Candidates for the 2024 Election

Retrieved on: 
Thursday, September 14, 2023
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WASHINGTON, Sept. 14, 2023 /PRNewswire/ -- The Concord Coalition today released its list of 12 key questions about our nation's fiscal future that voters should ask candidates in the 2024 election cycle.

Key Points: 
  • WASHINGTON, Sept. 14, 2023 /PRNewswire/ -- The Concord Coalition today released its list of 12 key questions about our nation's fiscal future that voters should ask candidates in the 2024 election cycle.
  • So how do the candidates for federal office propose to improve our nation's fiscal future?
  • Voters have a right—and a responsibility—to find out," says The Concord Coalition.
  • The Concord Coalition is a nonpartisan, grassroots organization dedicated to fiscal responsibility.

This Week in Finance News: 13 Stories You Need to See

Retrieved on: 
Friday, June 30, 2023
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NEW YORK, June 30, 2023 /PRNewswire/ -- With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help journalists covering the finance industry stay on top of the week's most newsworthy and popular releases, here's a roundup of stories from the week that shouldn't be missed.

Key Points: 
  • Those declines strongly suggested an end to a decade-long boom period lasting from 2012 into the middle of 2022.
  • Later this year, Enrollment Management & Competency-Based Education: Registrar Edition will be released.
  • In 2013, the John S. and James L. Knight Foundation spun off BMe Community, an innovative Black leadership network.
  • Related Resources: Read and subscribe to our journalist- and blogger-focused blog, Beyond Bylines , for media news roundups, writing tips, upcoming events, and more.

Latest Long-Term Budget Outlook from the Congressional Budget Office Demonstrates Cracks in America's Fiscal Foundation

Retrieved on: 
Thursday, June 29, 2023
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"We are heading into uncharted territory and ignoring our long-term structural fiscal and economic problems will not make them go away.

Key Points: 
  • "We are heading into uncharted territory and ignoring our long-term structural fiscal and economic problems will not make them go away.
  • An agenda premised on ever-rising debt is not a solid foundation for a sustainable budget or a growing economy," said Robert L. Bixby, executive director of The Concord Coalition.
  • "Budget negotiations, including the Fiscal Responsibility Act of 2023, tend to focus on limiting the growth of discretionary spending enacted through the annual appropriations process.
  • For more fiscal news and analysis, visit concordcoalition.org and follow us on Facebook @ConcordCoalition and on Twitter: @ConcordC
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Concord Coalition Welcomes Bipartisan Budget Reform Initiative Proposed by House Budget Committee Chair Arrington (R-TX) and Ranking Member Boyle (D-PA)

Retrieved on: 
Monday, June 26, 2023
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WASHINGTON, June 26, 2023 /PRNewswire/ -- The Concord Coalition today is heartily welcoming the announcement by House Budget Committee Chairman Jodey Arrington (R-TX) and Ranking Member Brendan Boyle (D-PA) that they are launching a bipartisan budget process reform effort.

Key Points: 
  • WASHINGTON, June 26, 2023 /PRNewswire/ -- The Concord Coalition today is heartily welcoming the announcement by House Budget Committee Chairman Jodey Arrington (R-TX) and Ranking Member Brendan Boyle (D-PA) that they are launching a bipartisan budget process reform effort.
  • "The budget process is broken and the best way to fix it is through bipartisan dialogue.
  • "Budget process reform is not a substitute for a serious plan to address the significant fiscal challenges facing the nation.
  • However, common-sense reforms to the budget process can turn lawmakers' attention to the kinds of long-term planning and strategic discussion that may yield true fiscal reform.

Former Georgia Congresswoman Dr. Carolyn Bourdeaux Joins The Concord Coalition Board of Directors

Retrieved on: 
Thursday, June 8, 2023
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WASHINGTON, June 8, 2023 /PRNewswire/ -- The Concord Coalition announced today that Former U.S. Representative Carolyn Bourdeaux (D-Georgia) is the newest addition to the organization's Board of Directors.

Key Points: 
  • WASHINGTON, June 8, 2023 /PRNewswire/ -- The Concord Coalition announced today that Former U.S. Representative Carolyn Bourdeaux (D-Georgia) is the newest addition to the organization's Board of Directors.
  • "Dr. Carolyn Bourdeaux is an outstanding addition to the Concord Coalition Board of Directors and we are honored to have her join us," said Robert L. Bixby, Executive Director of The Concord Coalition.
  • The Concord Coalition's Board of Directors sets the strategic direction of the Coalition and advises on policy implications and opportunities for American citizens to impact the budgeting process.
  • "I am honored to join The Concord Coalition Board of Directors," said Bourdeaux.

Concord Coalition Welcomes Compromise Agreement Between President Biden and House Speaker Kevin McCarthy; Urges Debt Limit Reform

Retrieved on: 
Monday, May 29, 2023
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WASHINGTON, May 28, 2023 /PRNewswire/ -- The Concord Coalition said today that the budget and debt limit agreement reached by President Biden and Speaker McCarthy is a sound compromise that can be enacted in time to prevent any default on the federal government's legal obligations.

Key Points: 
  • WASHINGTON, May 28, 2023 /PRNewswire/ -- The Concord Coalition said today that the budget and debt limit agreement reached by President Biden and Speaker McCarthy is a sound compromise that can be enacted in time to prevent any default on the federal government's legal obligations.
  • Concord Coalition executive director Robert L. Bixby stated:
    "As with any agreement reached on a bipartisan basis in a divided government, neither side gets all of what it wants.
  • Moreover, there is still a lot of heavy lifting needed to put the budget on a sustainable path.
  • The threat of default as a negotiating tool remains and will return when the debt limit needs to be raised again.

Concord Coalition Executive Director Bob Bixby: House Republicans are Fighting the 'Right Fight on the Wrong Hill'

Retrieved on: 
Monday, April 24, 2023
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WASHINGTON, April 24, 2023 /PRNewswire/ -- Today, The Concord Coalition released a blog by executive director Robert L. Bixby, on the partisan standoff over the debt limit and the federal budget.

Key Points: 
  • WASHINGTON, April 24, 2023 /PRNewswire/ -- Today, The Concord Coalition released a blog by executive director Robert L. Bixby, on the partisan standoff over the debt limit and the federal budget.
  • Although the two plans are worlds apart in a policy sense, it is now possible to begin negotiations.
  • Bixby continued, "That is a risky economic strategy because it carries the threat of default, even one that is unintended.
  • For more fiscal news and analysis, visit concordcoalition.org and follow us on Facebook @ConcordCoalition and on Twitter: @ConcordC

Ignoring Trustees' Warnings is Not Standing Up for Seniors

Retrieved on: 
Friday, March 31, 2023
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"Doing nothing to improve the financial outlook of Social Security and Medicare is not 'standing up for seniors.'

Key Points: 
  • "Doing nothing to improve the financial outlook of Social Security and Medicare is not 'standing up for seniors.'
  • It is deeply disappointing that lawmakers of both parties routinely ignore the trustees' warnings.
  • Ignoring the warnings in these reports will leave the public unprepared for changes that must inevitably be made to put these vital programs on a sustainable trajectory.
  • Bixby added: "The trustees' warnings are all the more urgent because the nation is not in a position of current or projected fiscal strength.