We educate, engage and empower citizens with credible, nonpartisan information on the risks and consequences of growing federal debt and unsustainable fiscal policies. We are dedicated to preserving the fiscal strength of the United States of America and to bolstering the integrity of government institutions through reducing the national debt and strengthening federal budget processes and procedures.| The Concord Coalition
Downloadable pdf: Social Security’s Debt Limit Escape Clause Introduction Last month, Treasury Secretary Janet Yellen notified Congress that the federal government had reached the current debt limit ($31.4 trillion).[1] As a result, the Treasury Department has undertaken traditional “extraordinary measures” that are expected to allow the government to continue borrowing through at least early June. […]| The Concord Coalition
I. What’s the Debt? How big is the U.S. national debt? Some reports say that it’s $36 trillion and others say it’s $29 trillion. The two numbers may cause some confusion but both are correct. They simply measure two different things. The larger number is the gross debt, which consists of all forms of U.S. […]| The Concord Coalition
This week the Senate Budget Committee released a plan that would add nearly $6 trillion to the national debt and simply ignore the roughly $4 trillion cost of extending several expiring tax cuts because they are “current policy,” while tacking on $1.5 trillion of additional tax cuts and $500 billion in new spending – because, […]| The Concord Coalition
September 4, 2024 Download PDF In 1994, President Clinton appointed us to co-chair the Bipartisan Commission on Entitlement and Tax Reform. We were hopeful that Congress and the President would come together on a plan to put the budget on a sustainable path. For a time that seemed possible. Deficits turned to surpluses and by […]| The Concord Coalition
This issue brief will examine different approaches to means-testing, estimate their budgetary effects, and consider their public policy implications. It concludes that limiting federal benefits would achieve only modest savings, unless the limits were extended to the middle-class. Limiting tax expenditures would achieve substantial deficit reduction, but less than current estimates suggest due to offsetting changes in individual behavior, the federal budget, and the overall economy.| The Concord Coalition
Addressing our nation’s long-term fiscal challenge will require additional revenue, including higher taxes on the rich. However, before policymakers succumb to the popular desire to impose higher marginal tax rates on the rich, they should consider whether taxes are as unfair as many people believe. They should also consider the potential unintended consequences of higher marginal tax rates.| The Concord Coalition
On March 11, President Biden transmitted to Congress his proposed budget for FY 2025. Although a Republican-controlled House means the Biden budget has little chance of enactment without significant modification, it represents an important starting point for negotiations and is an opportunity to initiate a national dialogue on our policy priorities: what do we want […]| The Concord Coalition
A Panel Discussion on January 19, 2024, hosted by the Warren B. Rudman Center for Justice, Leadership & Public Service at the UNH Franklin Pierce School of Law When: January 19, 2024, 12:00 to 1:30 pm Where: Panel discussion in Room G85 at the Paul College. Refreshments will be provided in the Great Hall after the panel […]| The Concord Coalition
According to public opinion polls, the most popular way to “fix” Social Security is by taxing the rich, specifically by increasing or eliminating the limit on wages subject to the Social Security payroll tax. Despite the populist appeal of this approach, it would have several offsetting effects on both Social Security and the federal budget that policymakers should not ignore.| The Concord Coalition
This issue brief will examine the history and rationale for taxing benefits, compare the tax treatment of Social Security to annuities from defined benefit pension plans, and examine how the taxation of benefits affects the program’s finances. It concludes that Social Security benefits are treated more favorably than annuities, and repealing the tax on benefits could adversely affect the program more than the Trustees’ projections currently indicate.| The Concord Coalition
Download the pdf: History and Future of the Social Security Trust Fund_ Part III Read Part I Read Part II Introduction Part III of this issue brief series examines how the Social Security trust fund controversy evolved following the 1983 amendments; explains why the public is understandably […]| The Concord Coalition
Download the pdf: History and Future of the Social Security Trust Fund_ Part II Read Part I Read Part III Introduction Part II of this issue brief series explains how changes to the Social Security benefit formula in the 1970s eliminated the possibility of relying on economic growth […]| The Concord Coalition
Download the pdf: History and Future of the Social Security Trust Fund_ Part I Read Part II Read Part III Introduction Social Security is probably the most widely discussed but least understood government program. Confusion is pervasive among policymakers and the public, primarily due to the arcane nature […]| The Concord Coalition
Social Security turns 89 today, providing an opportunity to review its accomplishments while taking a hard look at its future — including the need to put the federal government’s largest program on a sustainable path. “Politicians of both major parties are quick to promise that they will not touch Social Security. If they truly mean […]| The Concord Coalition
President Biden’s decision to end his 2024 presidential campaign naturally dominated the news over the past several days. There was, however, some news on the fiscal front worth noting. The President’s Office of Management and Budget (OMB) released its Mid-Session Review (MSR) of the president’s budget, showing a $14 billion increase in the projected deficit […]| The Concord Coalition
The impact of immigration on Social Security and Medicare does not depend on the number of people crossing our border, but rather on the age, earnings, family composition, and legal status of those who work, pay taxes, and collect benefits – or not.| The Concord Coalition
Blogs | The Concord Coalition
A majority of young Americans do not believe the country is headed in the right direction, and more than a quarter identify economic factors like inflation as their primary concern about our future. [1] Millennials (born 1981 to 1996) are currently the largest working population in the United States. Compared to their Baby Boomer parents […]| The Concord Coalition
The Concord Coalition expressed disappointment that tonight’s presidential debate failed to give the American people any idea what President Biden and former President Trump would do about the nation’s spiraling debt burden, which both men have contributed to. What we heard tonight on the debt was a combination of finger-pointing, fallacy, and fantasy. The moderators […]| The Concord Coalition
