News
The global nuclear non-proliferation regime, as it has evolved since the entry into force of the Nuclear Non-Proliferation Treaty (NPT) in 1970, has been remarkably resilient. Despite predictions of a “cascade of proliferation,” there are currently only nine states with nuclear weapons, and that number has remained the same for the past 25 years.
Mitch Daniels, president at Purdue University, talks about how pro-growth economic policies can support U.S. tax reform. He speaks with Bloomberg's David Westin on "Bloomberg Daybreak: Americas."
Resident Fellow of the Marylin Ware Center for Security Studies, Mackenzie Eaglen, discusses the 54 billion dollar increase in military spending.
CRFB Co-Chair Leon Panetta was on Face the Nation on CBS this Sunday. Among a variety of topics, the former Secretary of Defense, Director of the Office of Management and Budget, and Chair of the House Budget Committee discussed the importance of putting everything on the table to deal with the national debt.
Between defense and non-defense, the discretionary spending affected by Trump's budget request makes up 30 percent of the budget. Driving our spending growth and the rise in our nation's debt are three areas of the budget: Social Security, major health care programs, and interest on the debt. Social Security and major health care programs costs account for half of total spending and are projected to almost double in nominal dollars over the next decade. Interest payments are expected to nearly triple by 2027.
International trade with the rest of the world is a vital part of the U.S. economy and has a positive impact on each of our 50 states. Last year, American companies sold $2.2 trillion worth of goods and services to buyers in other countries, and American companies and consumers purchased $2.7 trillion worth of imports from trading partners all around the world. Together that volume of international trading activity represented 26 percent of the value of America’s $18.5 trillion in GDP in 2016.
A new report from the United States trade representative links America’s trade deficit with other countries to trade deals entered into going back to the Reagan administration. Those deal include the North American Free Trade Agreement, the Uruguay Round Agreements that created the World Trade Organization, China’s 2001 Protocol ofAccessiontotheWorld Trade Organization, and a series of others.
The Trump administration has just published its general trade principles. There are many possible reactions but a truly radical change, even if not yet likely, is much more likely than it was a year ago.
In the on-going controversy over how strictly to regulate financial institutions and markets in the wake of the financial crash of 2008, regulation of credit rating agencies (CRAs) has dropped out of sight.
Congress and President Trump are embarking on what is likely to be a major rewrite of the federal income tax code. Yet, neither they nor anyone else knows whether the hundreds of tax preferences embedded in the law accomplish their stated purposes.
Today, Speaker Paul Ryan gave a detailed presentation outlining the choice we have before us and the process by which we are working to repeal and replace Obamacare with patient-centered reforms. In his presentation, Speaker Ryan explained exactly how the Republican health care plan works and why it’s the best way to drive down costs and increase access.
On Twitter, President Trump claimed the national debt decreased by $12 billion during his first month in office, as opposed to increasing during President Obama's first month. While the numbers are correct, the small decrease in the debt since President Trump took office is primarily due to reductions in government cash-on-hand as well as short-term fluctuations.
Because of the way the New START treaty limits were negotiated, the United States had to make the majority of arms reductions, while Russia increased its number of nuclear weapons since the treaty entered into force in 2011.
The modern economy is more reliant on data than ever before. Without reliable information about the economic and social environment, making sensible choices that produce positive outcomes in commerce, research, and governance is impossible. Although the federal government’s statistical agencies play a vital role in generating this information, their value is often overlooked.
Nuclear weapons have been a cornerstone of U.S. national security since they were developed during World War II. In the Cold War, nuclear forces were central to U.S. defense policy, resulting in the buildup of a large arsenal.
CBO projects that, if current laws generally remained unchanged, federal outlays for mandatory means-tested programs (programs and tax credits that provide cash payments or other assistance to people with relatively low income or few assets) would grow over the next decade at an average annual rate of 4.3 percent, whereas spending for mandatory non–means-tested programs would grow at an average annual rate of 6.0 percent.
Social Security faces a serious financial shortfall, but there is no shortage of Social Security myths designed to draw attention away from the need for action. One such myth is that because interest payments this year will cover the gap between Social Security benefit outlays and tax revenue, there is little need to worry about the financial state of the program. This claim couldn't be further from the truth.
