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
Letters & Testimony

Defense Savings Strengthen Our Economic Security

February 06, 2013

Defense Savings Strengthen Our Economic Security February 6, 2013 Dear Member of Congress, On behalf of the undersigned organizations and... Read More

Event Summary

TCS Moderates Congressional Briefings on Reforming the Renewable Fuel Standard

February 05, 2013

TCS Moderates Congressional Briefings on Reforming the Renewable Fuel Standard             February 5, 2013 CONTACTS: Steve Ellis, 202-546-8500 ext... Read More

Our Take

Big Oil Boasts High Profits; Subsidies Continue

February 01, 2013

Big Oil Boasts High Profits; Subsidies Continue Oil and gas companies continue to boast substantial profits while reaping billions in taxpayer-backed subsidies. As of February 1st, four... Read More

Our Take

It’s Official: 2012 Drought Cost Taxpayers a Record $14 Billion

January 16, 2013

It’s Official: 2012 Drought Cost Taxpayers a Record $14 Billion This week, the U.S. Department of Agriculture (USDA) confirmed what taxpayers have feared for months. After tallying losses from last year’s... Read More

Our Take

House Science Subcommittee Debates Oil Shale Subsidies

December 12, 2012

The House Science, Space, and Technology Subcommittee on Energy and Environment held a hearing November 30th to discuss the development of... Read More

Letters & Testimony

Fiscal Conservatives: Taxpayers Won’t Harvest Farm Bill Savings

December 07, 2012

Fiscal Conservatives: Taxpayers Won’t Harvest Farm Bill Savings Taxpayers for Common Sense sent a joint letter today urging Congress to reject a five-year farm bill as part of a deficit reduction package.... Read More

More in-depth material from TCS in Rein in Deficits
Policy Briefs

Energy Tax Breaks Catch Ride on Fiscal Cliff Train

January 03, 2013

Energy Tax Breaks Catch Ride on Fiscal Cliff Train At the 11th hour lawmakers and the White House agreed to a deal on the fiscal cliff. While the deal was crafted to address urgent tax hikes... Read More

Reports & Data

Sliding Past Sequestration: $2 Trillion in Common Sense Cuts to Avoid the Fiscal Cliff

October 01, 2012

Sliding Past Sequestration: $2 Trillion in Common Sense Cuts to Avoid the Fiscal Cliff In the summer of 2011, Congress sent the President a bill that acknowledged failure. Instead of swallowing hard and coming up with trillions... Read More

Policy Briefs

Congress’ Tortured Math in MAP-21 (Trans. Reauthorization)

September 27, 2012

Congress’ Tortured Math in MAP-21 (Trans. Reauthorization) The just-passed MAP-21 (transportation omnibus) is paid for! It reduces the debt over 10 years! By $16.3 billion,if CBO is to be... Read More

Policy Briefs

Turning a Drought into a Fiscal Disaster

July 24, 2012

Turning a Drought into a Fiscal Disaster Politicians on both sides of the aisle are trying to take advantage of the drought crisis to foist a trillion-dollar farm bill on... Read More

TCS appearances in the media in Rein in Deficits

Budget Review: Leading Policy Priorities for Sustained Growth

February 14, 2013 | National Journal

With the release of the House Republican’s Fiscal Year 2013 budget resolution, budgetary issues are roaring back to the front burner. This... Read More

How to Make Democrats and Republicans Agree on a Sequester Deal

February 13, 2013 | U.S. News

As we look ahead to the sequestration set to take effect at the end of the month, we are already hearing the voices from all sides offering... Read More

Truth-O-Meter: Marco Rubio says sequester was Obama’s idea

February 13, 2013 | PolitiFact

Florida Sen. Marco Rubio delivered the Republicans’ response to the State of the Union address, criticizing President Barack Obama on policy... Read More

Defense cuts a necessary step to control deficit

February 13, 2013 | POLITICO

In a couple of weeks we will have a chance to revisit the holidays and immerse ourselves in all things “sequestration.” The deal brokered... Read More

State Of The Union: Obama Renews Call For Elimination Of Some Corporate Tax Loopholes

February 13, 2013 | Huffington Post

Solving the never-ending budget crisis and reducing the deficit will require corporate tax reform, Obama said. Obama called for tax reform... Read More

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

February 01, 2013

Broken Budgeting

Normally, Taxpayers for Common Sense staff would spend this weekend resting up, getting ready for the... Read More