The President’s student loan cancellation schemes will cost more than all federal spending on higher education in our nation’s history!

It is wildly reckless to jeopardize America’s financial stability to win the vote of young people. Our fiscal health must be the priority.

.⁦CRFB.org⁩: all recent student debt cancellation policies will cost a combined $870B-$1.4T. That’s more than all federal spending on higher ed over the nation’s entire history. Most of debt cancellation was thru executive actions under Biden. crfb.org/blogs/total-co…

Thank you to the Committee for a Responsible Federal Budget for awarding me a Fiscal Hero! As a member of the Bipartisan Fiscal Forum, I've prioritized being a good steward of taxpayer dollars & ensure the initiatives I lead are looked at through a lens of fiscal responsibility

I am honored to be named a 2024 Fiscal Hero by CRFB.org! I firmly believe our national debt is one of the greatest threats to our national security, which is why I am leading the charge in Congress to address our debt NOW.

Honored to be recognized as a 2024 Fiscal Hero by CRFB.org & receive this award. We cannot be a strong nation unless we pay our bills, and we can’t pay our bills if we are wasteful with money. #2024FiscalHeroes

On Wednesday at the The Brookings Institution, we celebrated the brilliance and contributions of preeminent scholars--who collectively contributed 258 years of scholarship to the Institution. A heartfelt thank you to this group. brookings.edu/articles/honor…

Really smart healthcare policy and it is preferable to offset all spending when possible given our debt situation. Good effort by Rep. Jodey Arrington to get people used to the idea that we should pay for important things rather than borrow.

youtube.com/watch?v=YhJYl1…

🚨 Tax Fact 🚨 - Revenue in 2023 closely matched post-TCJA projections, once you adjust for inflation. Corporate revenue matched it EXACTLY.

Suggestive that CBO’s score was pretty damn good and tax cuts didn’t pay for themselves. crfb.org/blogs/2017-tax…

Expect to be spending a lot of time on CRFB.org tax extension calculator as the debate unfolds through 2025. My first draft, sticking w/ paradigm, is:

--Extend most raisers & non-rate stuff like sd
--Individual rate cuts expire
--Corporate rate to 28% w/ expensing
--Child…

📢We have a new interactive tool📢

The 𝑩𝒖𝒊𝒍𝒅 𝒀𝒐𝒖𝒓 𝑶𝒘𝒏 𝑻𝒂𝒙 𝑬𝒙𝒕𝒆𝒏𝒔𝒊𝒐𝒏𝒔 tool lets 𝗬𝗢𝗨 decide how to address the expiring tax cuts with your own rates & base.

Full #TaxExtensions cost $3.4 trillion, but I know you can do better!

crfb.org/build-your-own…

New report!

Donald and I propose two revenue-neutral, pro-growth options to extend and build upon the Tax Cuts and Jobs Act.

We need to address the fiscal situation. In order to do that we need to raise revenue, fix Social Security, and fix Medicare--taking any of them off the table is not helpful or realistic; taking all of them off makes it mathematically impossible.

Join us for this upcoming The Brookings Institution event on finding common ground in supporting working families w/ young children -- w/ Tara E W Maya MacGuineas Lindsay Torrico.

I look forward to moderating the discussion w/ Josh McCabe Abby McCloskey

An utterly ridiculous claim -
crfb.org/blogs/can-dona…

Excited to share that I’m joining ⁦Brookings Global⁩ at ⁦The Brookings Institution⁩ as Senior Fellow. Thrilled to join a great global macro team. Huge thanks to ⁦Cecilia Rouse⁩, ⁦Brahima S. Coulibaly⁩, ⁦Eswar Prasad⁩ & ⁦Ben Harris⁩. brookings.edu/articles/capit…

Arrington is right. It is politically unrealistic to think we can address the fiscal imbalance with only spending cuts.

But any increases in revenue need to be well structured to avoid killing growth.

semafor.com/article/02/26/…

For a spirited discussion of the economy & soaring deficits, here I am with:
-Maya MacGuineas (Maya MacGuineas),
-Doug Holtz-Eakin (@djheakin), and
-Moderator Robert Buschman (@BuschmanBob)
At today's #PrinciplesFirst conference.
Start video at 6:27:00
youtube.com/watch?v=qu9-70…

“80-90% of elected leaders who pledged “no new taxes” have voted to increase spending.” Maya MacGuineas at Principles First summit discussion on debt, deficits and government spending. #PrinciplesFirst

Good point from Maya MacGuineas that many of the things we could have done a decade or so ago to reduce deficits, eg tweaks to Social Security, would not have hurt people much but delaying makes change much more painful. Sounds like climate change. #PrinciplesFirst

.Maya MacGuineas: “Everything you need to do to fix the fiscal problem, is the opposite of what our polarized moment has created…you need to focus on good policy, not good politics.”