Understanding Complex Budget Terms and Processes: What is Budget Reconciliation?
Reconciliation is a powerful process, whereby legislation drafted to meet those instructions has an easier path to passage.
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Reconciliation is a powerful process, whereby legislation drafted to meet those instructions has an easier path to passage.
While a 10-year window is currently the standard, the number of years covered by budget resolutions has varied.
CBO plays a vitally important role in the federal budget process.
On our current path, CBO projects that deficits will reach $1.0 trillion by 2022 and total $10.1 trillion over the next ten years.
https://www.pgpf.org/analysis/2017/06/cbo-unsustainable-deficits-threaten-future-economic-growth
“America’s high and rising national debt threatens our economy, and must be included in the policy conversation this year," said Michael A. Peterson, President and CEO of the Peter G. Peterson Foundation.
https://www.pgpf.org/press-release/2017/05/statement-on-presidents-budget
Peter G. Peterson releases a statement on sequestration.
https://www.pgpf.org/press-release/statement-from-foundation-chairman-pete-peterson-on-sequestration
Sequestration is a process that cuts federal spending through across-the-board reductions.
https://www.pgpf.org/budget-basics/what-you-should-know-about-the-sequester
As Election Day approaches, the Peter G. Peterson Foundation is delivering a nonpartisan Election Fiscal Toolkit to all U.S. House and Senate candidates, encouraging a critically important conversation about how to solve America’s fiscal challenges.
A large, comprehensive plan that addresses our long-term structural deficits is clearly the best way forward for America’s future economy. However, more modest proposals, which would begin to take meaningful steps towards putting our debt on a sustainable path, would also be worthwhile.
https://www.pgpf.org/budget-basics/budget-conference-committee-fiscal-options-are-available
Under the president’s budget, federal debt will remain historically high, roughly double its average over the past 50 years.
https://www.pgpf.org/analysis/presidents-budget-not-enough-to-solve-our-long-term-fiscal-challenges