Rein in Deficits

The federal government usually runs an annual budget deficit, which is measured by the difference between the amount of money it spends and it receives in a given year. Each year’s deficit is added to the total amount the government owes to creditors, known as the national debt. ...More

In some instances it makes good economic sense to run a short-term deficit. But consistent and growing deficits and national debt can hurt the economy. Our Constitution mandates that Congress pass a federal budget every year. It is up to Congress to cut spending and raise revenue in order to stop running a deficit year after year. Over the next few years, lawmakers must begin reducing the national debt and put in place a credible long-term plan to keep the federal budget in balance.

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All the latest content from TCS in Rein in Deficits
Press Releases

New report details effective tax rates and various tax breaks used by the Oil & Gas industry

April 10, 2014

Taxpayers for Common Sense's new report, “Understanding Oil and Gas Tax Subsidies,” offers a detailed review of the suite of tax subsidies the oil and gas industry receives. ... Read More

Our Take

Summary of Senate Finance Committee’s Tax Extenders Package

April 03, 2014

Summary of Senate Finance Committee’s Tax Extenders Package On Tuesday, April 1, 2014, Senate Finance Committee Chair Ron Wyden (D-OR) released the version of the tax extenders package that the... Read More

Our Take

FY15 Budget and OCO Funding

March 04, 2014

“…this is the first time in 13 years we will be presenting a budget to the Congress of the United States that's not a war-footing budget.”... Read More

Our Take

Secretary of Defense FY15 advance budget briefing

February 24, 2014

This afternoon the Secretary of Defense and the Chairman of the Joint Chiefs showed a little leg on the subject of the fiscal year 2015... Read More

Our Take

New Farm Bill, Same Subsidy Schemes

February 12, 2014

New Farm Bill, Same Subsidy Schemes Taxpayers, meet your new farm bill, same as the old farm bill. Despite claims by the House and Senate Agriculture Committees, the notion... Read More

Letters & Testimony

Joint Letter to Congress: End Budget Gimmicks, Cut Pentagon’s Slush Fund

February 06, 2014

Taxpayers for Common Sense joined with 35 diverse organizations to send Appropriators in Congress a letter calling for an end to gimmicks in the Defense budget.... Read More

More in-depth material from TCS in Rein in Deficits
Fact Sheets

Just the facts about the Effective Tax Rate for Oil & Gas Companies

April 21, 2014

Just the facts about the Effective Tax Rate for Oil & Gas Companies The effective tax rate (ETR) sounds like it measures what oil companies are paying to Uncle Sam. What a company’s ETR actually measures is... Read More

101

A Century of Subsidies for the Oil & Gas Industry

April 18, 2014

The oil and gas industry has been getting subsidies for almost a century. We can't afford special treatment for profitable companies. The time has come to end taxpayer subsidies for the industry.... Read More

Fact Sheets

Political Footprint of the Oil and Gas Industry Lobby

April 10, 2014

Political Footprint of the Oil and Gas Industry Lobby The federal government has been subsidizing the oil and gas industry through the tax code for nearly 100 years, wasting billions of... Read More

Fact Sheets

Just the facts about the Littoral Combat Ship

April 04, 2014

A ship that cannot operate and survive against advanced military adversaries in Asia, like China, should not receive one more dollar of... Read More

TCS appearances in the media in Rein in Deficits

Paying Uncle Sam

April 17, 2014 | WJLA News Channel 8

Millions of Americans have filed their federal and state income taxes. Where is all of that money going? Ryan Alexander, president... Read More

Starting a Tax Day Dialogue

April 15, 2014 | US News & World Report

Today is April 15, the one day every year when most Americans think about taxes. So I thought I would take this opportunity to step back and... Read More

First on CNN: Tax-writing lawmakers’ tax issues—do as I say…

April 15, 2014 | CNN

Washington (CNN) -- The House Ways and Means Committee is the oldest, and arguably the most powerful, in Congress with members... Read More

The Poster Child for Government Boondoggles

April 14, 2014 | US News & World Report

In South Carolina, about a 30 minute drive from Augusta, Ga., down Route 125 is the Savannah River Nuclear Site. Savannah River is home to... Read More

Congress Up in Arms Over Pentagon Cost-Cutting Steps

April 14, 2014 | The Fiscal Times

About half a dozen members of Congress, independently of each other, raised objections this week to a slew of spending reductions proposed by the Defense Department as part of its fiscal 2015 budget request. ... Read More

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

April 04, 2014

Cuts! Just Kidding

Just a couple of days ago Senate Finance Committee Chairman Ron Wyden (D-OR) released his new and improved tax... Read More