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.

Explore the Rein in Deficits Program Explore Rein in Deficits Close
All the latest content from TCS in Rein in Deficits
Our Take

CROmnibus Analysis Blog

December 09, 2014

CROmnibus Analysis Blog The eagerly anticipated CROmnibus, that will provide funding for the federal government for fiscal year 2015, has finally been... Read More

Our Take

Top 10 Tax Cherries On Top of the CROmnibus

December 17, 2014

Top 10 Tax Cherries On Top of the CROmnibus Fresh off their $1.1 trillion CROmnibus high, the Senate approved a bill providing dozens of tax breaks to special interests. The tax... Read More

Our Take

Stocking Stuffers in CROmnibus’ Pentagon Spending

December 12, 2014

Stocking Stuffers in CROmnibus’ Pentagon Spending The Pentagon portion of the CROmnibus is liberally sprinkled with funding for programs the Pentagon either wants to end or never asked for in... Read More

Letters & Testimony

Letter to Congress: Tax Extenders Extend Deficits

December 03, 2014

Letter to Congress: Tax Extenders Extend Deficits TCS letter to the House of Representatives outlining a better approach to tax extenders going forward. ... Read More

Letters & Testimony

TCS Testimony on Disaster Related Tax Policy for the Senate Committee on Finance

November 19, 2014

Testimony of Steve Ellis Vice President, Taxpayers for Common Sense United States Senate Committee on Finance Subcommittee on Taxation and... Read More

Letters & Testimony

TCS Testimony on Flood Insurance for House Committee on Financial Services Hearing

November 19, 2014

Testimony of Steve Ellis Vice President, Taxpayers for Common Sense Subcommittee on Housing and Insurance Committee on Financial... Read More

More in-depth material from TCS in Rein in Deficits
Reports & Data

Taxpayers are losing millions on natural gas extracted from federal land

November 19, 2014

The Bureau of Land Management (BLM) within the Department of the Interior (DOI) manages both leasing on federal lands and leasing of federal... Read More

Reports & Data

Effective Tax Rates of Oil & Gas Companies: Cashing in on Special Treatment

July 30, 2014

From 2009 through 2013, large U.S.-based oil and gas companies paid far less in federal income taxes than the statutory rate of 35 percent.... Read More

Fact Sheets

$58 billion “Emergency” Overseas Operations Spending equals 5th Largest Federal Agency

June 30, 2014

At Taxpayers for Common Sense, we don’t advocate cutting federal spending in one department or agency and moving it to another. But... Read More

Fact Sheets

Pre-cursor Earmarks (?) in the Defense Bill

June 12, 2014

Taxpayers for Common Sense combed through the National Defense Authorization legislation, as it was passed by the House of Representatives,... Read More

TCS appearances in the media in Rein in Deficits

Policy groups take on extenders

December 18, 2014 | Politico

TOP 10 ‘MOST GLUTTONOUS’ EXTENDERS. Taypayers for Common Sense published a list of what it considers the 10 most egregious tax extenders... Read More

Oh, and President Obama’s Request for Police Body Cameras? It Wasn’t in the Budget Congress Just Pas

December 18, 2014 | The Root

Lawmakers went home for Christmas without acting on the president’s $263 million request.... Read More

10 Outrageously Pricey Tax Breaks ‘Gifted’ by Congress

December 18, 2014 | The Fiscal Times

The Senate, on its way out at the close of the 113th Congress, approved the extension of more than 50 tax breaks, collectively known as “tax... Read More

Corporate Welfare Boogie

December 17, 2014 | Sky Valley Chronicle

How oil and gas industry has been getting rich off your freebies since 1946... Read More

Connecticut Winners, Losers In $1.1 Trillion Federal Spending Plan

December 17, 2014 | The Connecticut Mirror

WASHINGTON — The $1.1 trillion spending bill that Congress struggled to approve, with little help from the state's Democratic lawmakers, has... Read More

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

December 19, 2014

Congress by the Numbers

Sine Die. That’s the Latin phrase for spells the end of the 113th Congress. Phew. While we have a couple weeks... Read More