What steps should Congress and the President take to restore common sense budgeting practices and rein in federal spending?
Our nation is facing a budget crisis at both the state and federal levels. The federal government’s budget deficit reached $389 billion through the first three months of fiscal 2010 and states are expected to face cumulative budget shortfalls of $193 billion for fiscal year 2010.
In light of this critical situation, what steps should Congress and the President take to restore common sense budgeting practices and rein in federal spending? Join us as three veteran budget experts provide an overview of the President’s FY 2011 Budget Proposal, and discuss ways to reform the federal budget process to restore confidence in federal budgeting practices.
Dr. Veronique de Rugy is a senior research fellow at the Mercatus Center. Her research interests include the federal budget, homeland security, and tax issues.
Dr. Donald Marron is a visiting professor at the Georgetown Public Policy Institute in Washington, DC, where he teaches microeconomics and public finance. From 2002-2009, he served as a Member of the President’s Council of Economic Advisers, Acting Director of the Congressional Budget Office, and Executive Director of the Congressional Joint Economic Committee.
Dr. Maya MacGuineas is President of the Committee for a Responsible Federal Budget at the New America Foundation. She is an expert on the budget process, and served as a Social Security advisor to the McCain 2000 campaign and has also worked at the Brookings Institution, the Concord Coalition and on Wall Street.
For more information and research on spending and budget issues, please visit the Mercatus Center’s new Spending and Budget Initiative website.