House Republicans Launch New Budget With Zero Deficit Goal by 2023
The battle over the federal budget is far from over.
Senate Democrats are not being left behind, as their budget plan calls for more modest reductions in spending combined with increases in taxes to achieve a steady debt-to-GDP ratio, but that will not achieve a balanced budget.
The battle over the next budget remains sharply polarized with limited paths to compromise. Our federal government has been operating without an approved budget for some time. This plus the sequestration battle and the debt-ceiling increase authorization debate makes our economy appear less stable. This has serious consequences including diminishing investor confidence which drives talent and capital to seeking opportunities elsewhere. We need a breakthrough and we need one soon.
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