Tim Penny is a former Congressman from Minnesota and a Co-Chair of the Committee for a Responsible Federal Budget.

As the national debt continues to climb toward record levels – totaling 100% of Gross Domestic Product (GDP) at the end of Fiscal Year (FY) 2025 – interest on the national debt has also risen ...

In the latest Congressional Budget Office (CBO) baseline, nominal spending is projected to grow from $6.8 trillion in Fiscal Year (FY) 2024 to $10.3 trillion in 2034. About 87 percent of this increase ...

Earlier this year, the Congressional Budget Office (CBO) released an analysis estimating the 20-year cost of a National Missile Defense (NMD) system based on President Trump’s 2025 executive order, ...

About half of all U.S. hospitals are designated as “charitable” nonprofit institutions by the Internal Revenue Service (IRS).

Time is running out to save the Social Security retirement trust fund from insolvency in less than six years and ...

In his first State of the Union address, President Joe Biden stated that he would be "the only president ever to cut the deficit by more than one trillion dollars in a single year" and that "by the ...

The Tax Policy Center (TPC) recently published analyses of several options to raise the $10,000 State and Local Tax (SALT) deduction cap, which is set to expire at the end of 2025 but could be part of ...

We have published an abbreviated update of this analysis, incorporating additional legislation, updated cost estimates, and new economic projections. We now find the COVID-19 response to be larger ...

We have published an updated analysis "What Would It Take to Balance the Budget? An Update" to account for the Congressional Budget Office's latest ten-year budget projections. Balancing the budget ...

In the Congressional Budget Office’s (CBO) latest budget baseline, the agency revised projections of Medicaid enrollment and outlays for the next decade – estimating that outlays will be more than ...