Can Budget Rules Promote Fiscal Responsibility?

This week on Facing the Future former U.S Representative Carolyn Bourdeaux (D-GA) discussed key differences between state and federal budgeting and whether there are lessons for federal policymakers. We also got some timely insights from University of Maryland professor of public policy Phil Joyce on whether the 50-year old federal budget process is up to dealing with the nation’s fiscal challenges. Later in the show, Concord Coalition Chief Economist Steve Robinson joined me to assess the Fiscal Year 2024 year-end numbers as reported by the Congressional Budget Office (CBO) and a new CBO report on trends in the distribution of family wealth.