CBO Director Elmendorf: Fiscal Outlook Contingent on Credible Reductions of Budget Deficits

In remarks at the National Tax Association's annual conference in Chicago, Congressional Budget Office Director Douglas Elmendorf said that specific policies that narrow budget deficits must be enacted before the fiscal outlook of the nation improves.  Elmendorf noted a disconnect between what benefits taxpayers expected (especially in regards to seniors) and the amount of revenue collected to fund those benefits. 

See "Fiscal Policy Choices," found at http://www.cbo.gov/doc.cfm?index=11972.

Posted by James G. Haskell, Senior Associate Editor, Wealth Strategies Journal.