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

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

Letters & Testimony

Bipartisan Coalition Sends Letter to Armed Services With Final NDAA Recommendations

October 16, 2014

Bipartisan Coalition Sends Letter to Armed Services With Final NDAA Recommendations TCS joined a coalition of groups in making money-saving recommendations to save Defense dollars.... Read More

Press Releases

Budget Watchdog Documents Low Federal Effective Tax Rates for Large Oil and Gas Companies

July 31, 2014

Effective Tax Rates of Oil and Gas Companies: Cashing in on Special Treatment report finds variety of special tax provisions allows companies to defer billions in taxes... Read More

Letters & Testimony

Letter to Senate Appropriations Committee: Reject more funding for F-35

July 17, 2014

This week the Senate Appropriations Committee began its consideration of H.R. 4870, the appropriations bill for the Department of Defense... Read More

Letters & Testimony

Cut Back Needless Fossil Subsidies in Energy and Water Bill

July 10, 2014

Cut Back Needless Fossil Subsidies in Energy and Water Bill The Green Scissors coalition urges support for the amendment offered by Rep. Jackie Speier to reduce the Fossil R&D account to FY 2014 levels.... 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

Group Proposes Environmentally Friendly Budget Cuts

November 24, 2014 | The Daily Caller

 coalition of interest groups is proposing a list of fiscally responsible and environmentally friendly spending cuts that could appeal to... Read More

Witness at Senate Hearing Questions Effectiveness of Disaster Bonds

November 21, 2014 | Bond Buyer.com

WASHINGTON - An official with a nonpartisan budget watchdog group questioned the effectiveness of tax-exempt disaster bonds and other types of... Read More

Reviving Earmarks is Not Going to Break Congress’ Gridlock

November 19, 2014 | US News & World Report

There is wide agreement inside and outside of Washington that the recent level of Congressional dysfunction has reached troubling... Read More

High-income CT Sends U.S. More In Taxes Than It Gets Back

November 17, 2014 | The Connecticut Mirror

Washington – When it comes to federal dollars, is it better for Connecticut residents to give or to receive? It depends on who you... Read More

Bumper Crop Could Cost Taxpayers Billions In Farm Subsidies

November 17, 2014 | Daily Caller

Record agricultural output is pushing crop prices down, meaning farm subsidies could exceed projections by several billion dollars, according... Read More

Weekly Wastebasket

Our weekly reality-check for federal spending. View All

November 21, 2014

Free Gas

Getting something for nothing is a pretty sweet deal. At least if you’re the one getting something. Not so much... Read More

Weekly Wastebasket

Bribing to Subsidize

October 03, 2014

Weekly Wastebasket

Pricey Plane to Keep

September 25, 2014