The Moment of Truth

Official account of The Moment of Truth Project chaired by Erskine Bowles and Al Simpson continuing the work of the Simpson-Bowles Fiscal Commission

[CRFB.org @BudgetHawks]

The House plans to vote on the $1.9 trillion #COVID19 relief package late tonight. See the how it emerged from several committees https://t.co/uHIij1Z8dE.

[CRFB.org @BudgetHawks]

The House plans to vote today on the latest #COVID19 relief package. See five ways it could be improved https://t.co/NbOT4ptAQy.

[CRFB.org @BudgetHawks]

Addressing the current crisis is the priority, but national debt will rise to record levels in the years to come. Policymakers will need to confront this when the economy recovers. See https://t.co/ixl95fIJfz and https://t.co/xBwK57qU9Q.

[CRFB.org @BudgetHawks]

Fmr CEA Chair Greg Mankiw in @nytimes: "According to the Committee for a Responsible Federal Budget, the fiscal packages already in place, measured as [a share of GDP], are about a quarter larger than those enacted during the Great Recession of 2008." https://t.co/W8f7C4o4D9

[CRFB.org @BudgetHawks]

See what's in the #COVID19 bill the House will vote on this week https://t.co/uHIij1Z8dE

[CRFB.org @BudgetHawks]

As lawmakers deliberate on a new COVID relief package, here are some principles they should follow https://t.co/jSdXpobr6u.

[CRFB.org @BudgetHawks]

There are risks if too much stimulus is injected into the economy. Policymakers should consider what could happen if a COVID package overshoots the mark https://t.co/CR2h2j2wcw.

[CRFB.org @BudgetHawks]

The latest projections from the nonpartisan Congressional Budget Office show that rising national debt will need to be addressed after the economy is strong again. See our analyses of the 10-year and long-term budget outlook https://t.co/d3AZ1ON2Qw & https://t.co/u87fF8PBKk.

[CRFB.org @BudgetHawks]

Congress faces a series of fiscal deadlines this year that will force lawmakers to act on critical matters. See more deadlines at https://t.co/amz70PhDRF.

[CRFB.org @BudgetHawks]

Former U.S. Comptroller General David Walker: "We must do what we can to address the challenges of today while also taking steps to help create a better tomorrow." https://t.co/x80Ay4C8Iz

[CRFB.org @BudgetHawks]

"We shouldn’t shy away from borrowing what’s needed to end this pandemic, support the recovery, and help sustain households and businesses through this crisis. But along the way, we can’t afford to ignore the long term." https://t.co/hFZjZDw3kH

[CRFB.org @BudgetHawks]

"Maya MacGuineas, president of the Committee For a Responsible Federal Budget said the CBO data argues in favor of a more targeted stimulus approach and “serious pay-fors” for infrastructure." https://t.co/7LHfexmk6v

[CRFB.org @BudgetHawks]

As Congress considers additional #COVID19 relief, here are some principles to guide lawmakers https://t.co/jSdXpot2v4.

[CRFB.org @BudgetHawks]

Hot off the presses: Our full analysis of today's CBO budget outlook. One tidbit: CBO projects the deficit will total $2.3 trillion (10.3% of GDP) in 2021, fall to a low of $905 billion (3.6%) in 2024, and grow to $1.9 trillion (5.7%) in 2031 https://t.co/d3AZ1OvrYY.

[CRFB.org @BudgetHawks]

From our preliminary look at the new CBO budget baseline:

National debt will be slightly lower than projected late last year, but will still reach a record of 107% of GDP by 2031 https://t.co/lWoLd0cjeJ.

Stay tuned for a deeper dive later today.

[CRFB.org @BudgetHawks]

This is a great visual analysis using #COVIDMoneyTracker data. Dig even deeper using our interactive tool https://t.co/sV4RsNE6Aj.

[CRFB.org @BudgetHawks]

Have you RSVPd for our timely virtual event Thursday featuring experts discussing budget reconciliation? If not, register now. RSVP form and details at https://t.co/ljtY9NrXaL.

[CRFB.org @BudgetHawks]

There are key differences between the #COVID19 plans from Pres. Biden and a group of GOP senators. We just published a detailed comparison. See how the plans stack up https://t.co/myNYcm28IU

[CRFB.org @BudgetHawks]

NEW: Building a Responsible COVID Relief Package

We should spend what's necessary to end the pandemic, but a new relief package should be targeted for true economic and health care needs. Measures unrelated to the crisis should be removed or paid for.

https://t.co/jSdXpot2v4

[CRFB.org @BudgetHawks]

Budget reconciliation is in the spotlight. What can be done through it? What can't? We're hosting an expert virtual panel discussion THIS THURSDAY featuring our @MarcGoldwein, @econwonk of @ThirdWayEcon and @FiatSlugz of @ConcordC. Learn more & RSVP today https://t.co/ljtY9Namjd.