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Search resuls for: "CRFB"


7 mentions found


☆ Politicians falling short in problem-solving: CRFB's Maya McGuineas
  + stars: | 2023-11-13 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPoliticians falling short in problem-solving: CRFB's Maya McGuineasMaya McGuineas, Committee for a Responsible Federal Budget, and Krishna Guha, Evercore ISI, join 'The Exchange' to discuss the looming government shutdown deadline, increasing U.S. debt, and more.
Persons: McGuineas, Krishna Guha Organizations: Federal Budget, Evercore ISI
☆ Why the Fitch downgrade of the US credit rating may not mean much
  + stars: | 2023-08-02 | by ( Bryan Mena Jeanne Sahadi | Bryan Mena | Jeanne Sahadi | ) edition.cnn.com   time to read: +8 min
CNN —There may not be any lasting major negative ramifications from the surprise US credit rating downgrade by Fitch this week — not for the economy, not for consumers and not for the government’s ability to borrow. Normally, when your credit score as a consumer falls — or your credit rating as a country — there are negative consequences. Here’s why the United States is unlikely to see that kind of impact from the Fitch downgrade. The downgrade wasn’t a huge dropFitch cut its US credit rating to AA+ from what had been a sterling AAA rating. “Fitch’s credit rating is an expression of the probability of a default.
Persons: You’re, Fitch, “, brinkmanship, Marc Goldwein, you’re, ”, Mark Zandi, Yellen, Jamie Dutta, Dutta, ” George Mateyo, ” Mateyo, ” José Torres, Torres, it’s, ” Torres, Uncle Sam, CRFB, – CNN’s Krystal Hur, Allison Morrow Organizations: CNN, Fitch, AAA, Committee, U.S . Treasury, Moody’s, AA, “, Vantage, Key Private Bank, Federal Reserve, Interactive Brokers, Moody’s Investors Service, Treasury, Congressional, Social Security Locations: United States, States, corporates, United
☆ Student-loan ruling may be windfall for US deficit reduction
  + stars: | 2023-06-30 | by ( David Lawder | ) www.reuters.com   time to read: +4 min
The debt relief program had been blocked by the legal challenges that led to the Supreme Court's decision. The move had the effect of limiting a dramatic reduction in the fiscal 2022 deficit to $1.375 trillion from $2.775 trillion the prior year. Without the advance recognition, the deficit would have fallen below $1 trillion as COVID relief programs ended and revenues surged. A reversal of more than $300 billion would make it appear that this year's fiscal deficit fell slightly from 2022. "It's deficit reduction relative to a deficit increase that never really went into effect," Goldwein said.
Persons: Joe Biden's, Marc Goldwein, Goldwein, Biden, Shai Akabas, David Lawder, Andrea Ricci Organizations: U.S, of Education, Department, Treasury, Committee, Federal, Congressional, Center, Department of Education, Thomson Locations: U.S
☆ CRFB senior policy director Marc Goldwein: We should've ended student loan pause two years ago
  + stars: | 2023-06-05 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCRFB senior policy director Marc Goldwein: We should've ended student loan pause two years agoMarc Goldwein, senior vice president at the Committee for a Responsible Federal Budget, joins 'Squawk Box' to discuss the latest on the student loan payment pause, as borrowers brace for a restart of monthly payments in September as part of the debt ceiling legislation.
Persons: Marc Goldwein, should've Organizations: Federal Budget
☆ 5 ways House Republicans' budget plan 'will be a disaster for families,' according to the White House
  + stars: | 2023-03-20 | by ( Ayelet Sheffey | Juliana Kaplan | ) www.businessinsider.com   time to read: +4 min
The House Freedom Caucus unveiled a plan to address the debt ceiling through major spending cuts. The White House launched a campaign attacking the plan on Monday, saying it would be disastrous for families. In a release, the White House said that they're joining forces with Congressional Democrats to go on the offense as House Republicans head to Florida for their retreat. Specifically, the White House is hitting out at how the proposal would weaken public safety and national security, according to a White House official. —House Freedom Caucus (@freedomcaucus) March 13, 2023"It should shock no one that financially responsible proposals terrify and confuse this administration," it wrote.
☆ If you want to balance the budget without raising taxes or cutting defense, Social Security, and Medicare, you'd probably have to fire nearly every park ranger and cut 70% of anti-poverty spending
  + stars: | 2023-03-07 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com   time to read: +6 min
That is, if tax increases, defense spending, Social Security, and Medicare remain off the table. "The thing is the government has basically three gigantic programs and it's the US military, Social Security, and Medicare," Goldwein said. "The idea we're just going to eliminate all parts of government other than Social Security, Medicare, and defense — it's just not realistic, or desirable," Goldwein said. Meanwhile, Democrats await Republicans' plan to move ahead with a deal to raise the debt ceiling before the US defaults. The hard right demands spending cuts," Senate Majority Leader Chuck Schumer wrote on Twitter.
☆ US deficit widens by $85 billion in December
  + stars: | 2023-01-12 | by ( Alicia Wallace | ) edition.cnn.com   time to read: +2 min
Minneapolis CNN —The US government recorded a deficit of $85 billion in December, bringing the total deficit to nearly $1.42 trillion for the 2022 calendar year, the Treasury Department reported Thursday. The government, which runs on a fiscal year that starts in October, is running a deficit of $421.41 billion for its fiscal first quarter of 2023, a 12% increase from the fiscal first quarter of 2022, Treasury data shows. December’s deficit was nearly four times as large as the $21.3 billion deficit recorded in December 2021 as spending grew and revenue fell last month. Receipts totaled $454.94 billion, while outlays were $539.94 billion in December 2022. The House Republicans’ rules package adopted earlier this week included measures aimed at reining in federal government spending and keeping a lid on taxes.
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