""Policymakers gave new meaning to fiscal irresponsibility," she said, since the previous standoff was over a deficit-busting $1.5 trillion in health-care subsidies and the current reopening package locks in what the CRFB calculates as $3.4 trillion of new borrowing by wiping the Pay-As-You-Go (PAYGO) scorecard, a favorite policy of the CRFB. "Lawmakers should stop papering over their fiscal recklessness and face the tough decisions head-on," MacGuineas argued, "or at the very least, follow their own rules.""
"While the reopening package provides full-year appropriations for Agriculture, Legislative Branch, and Military Construction-Veterans Affairs, and extends current funding for the remaining appropriations bills, the CRFB warns the true cost of reopening the government is massive fiscal negligence. The CRFB stressed that while the government may reopen soon, the underlying fiscal instability remains acute, describing the nation's fiscal path as "increasingly unsustainable.""
The Committee for a Responsible Federal Budget condemned the shutdown’s political and fiscal damage and warned of reputational harm. The CRFB says the reopening package wipes the PAYGO scorecard and locks in roughly $3.4 trillion of additional borrowing after a prior $1.5 trillion standoff over health-care subsidies. The Continuing Resolution funds several appropriations fully and extends funding for others while raising concerns about massive fiscal negligence. CBO estimates a $1.8 trillion federal deficit over the latest 12 months, and federal debt is approaching 100% of GDP (about 99.8%). The CRFB calls the nation’s fiscal path increasingly unsustainable and urges confronting tough fiscal decisions.
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