Archives
Disclaimer
The views expressed on this blog are those of the authors and do not necessarily represent the views of the Bipartisan Policy Center.
Bipartisan Beat Blog
Latest Blog Entry
Feb. 2, 2012
CEOs’ Political Donations Should Reward Courage
BPC President Jason Grumet: CEOs possess means to positively change our toxic political environment
This op-ed was originally published on Bloomberg View.
As paralysis in Congress brought the U.S. to the brink of a government shutdown late last year, Starbucks Corp. (SBUX) Chief Executive Officer Howard Schultz let loose a corporate primal scream.
In an open letter, he accused members of Congress of putting “partisan and ideological purity over the well-being of the people,” and urged that they be punished. He pointed out, rightly, that the deterioration of our political system is at least partly caused by the ever-expanding election cycle and the treadmill of fundraising. And, in a laudable and rare effort to combine deeds with words, he vowed to cease all campaign donations and urged business leaders and voters to do the same.
Posted in Democracy Project, Bipartisanship
It’s That Time of Year Again!
Deficits and debt are likely to worsen in the next decade, and worsen still more in the years after
By Steve Bell
Loren Adler and Shai Akabas contributed to this post.
The Congressional Budget Office (CBO) released its annual Budget and Economic Outlook this morning. CBO’s first summary paragraph captures precisely the complicated uncertainties of fiscal policy and economic outcomes in the future:
“The federal budget deficit—although starting to shrink—remains very large by historical standards. How much and how quickly the deficit declines will depend in part on how well the economy does over the next few years. Probably more critical, though, will be the fiscal policy choices made by lawmakers as they face the substantial changes to tax and spending policies that are slated to take effect within the next year under current law.”
The summary of the CBO report: Deficits and debt are likely to worsen in the next decade, and worsen still more in the years after.
Posted in Debt Reduction Task Force, Economic Policy Project
Don't Panic About the Debt Ceiling!
Based on current economic and policy assumptions, the debt limit won’t again be reached until 2013
Updated February 3, 2012
By Steve Bell, Loren Adler and Shai Akabas
A few media stories about the possibility that the U.S. sovereign debt may breach its now $16.4 trillion ceiling before the upcoming November election require elaboration and perspective. The stories cite a combination of slow economic growth in the United States and deepening turmoil in Europe as the rationale behind an accelerated forecast.
In our previous posts on this subject (here and here), we have emphasized our assessment that, in the absence of unexpected events, the debt ceiling would not again be reached until calendar year (CY) 2013.
The question now is quite simple: In light of reduced global economic growth forecasts by the International Monetary Fund and the World Bank, threatening noises in the Middle East, and bad news out of Europe, have we fundamentally altered our projection?
Posted in Debt Reduction Task Force, Economic Policy Project
What We're Reading: January 30
Throughout the week, BPC's Housing Commission will highlight news articles that address critical developments in housing policy. Any views expressed in the content posted on this forum do not necessarily represent the views of the Commission, its co-chairs or the Bipartisan Policy Center.
Florida primary forces GOP candidates to face the dreaded housing question
By Michael A. Fletcher
The Washington Post
"With the battle for the Republican presidential nomination moved to Florida, the candidates find themselves confronted with a question central to the health of the state’s weak job market: What are their plans for solving the housing mess? Florida’s economy rests heavily on housing, which has struggled in the years since the bubble burst. New construction has slowed to a crawl and home prices have tumbled, sapping consumer confidence, choking tax revenue and leaving the state with one of the nation’s highest unemployment rates.
President Obama has acknowledged that his housing policies have been ineffective, an assertion vividly illustrated by the many half-built developments and large inventory of financially distressed properties that dot the Florida landscape. That might sound like a political opportunity for the GOP candidates, particularly in Florida, which is seen as pivotal to their party’s chances to capture the White House. But so far, the candidates have not been specific on how they would address the housing problem." Read more here.
Posted in Housing Commission
Blue Ribbon Commission on America’s Nuclear Future Releases Final Report
The report calls for urgent action to break the current stalemate in nuclear waste management policy
By Lourdes Long
Yesterday, the Blue Ribbon Commission on America’s Nuclear Future (BRC) released its final report to the Secretary of the Department of Energy, Dr. Steven Chu. The report outlines a new, integrated strategy for managing and disposing our country’s nuclear waste.
The Blue Ribbon Commission is co-chaired by former Congressman Lee Hamilton, who is also a co-chair of the BPC’s National Security Preparedness Group. BPC Senior Fellow and former Senator Pete Domenici served on this two-year commission as co-chairmen of the Reactor and Fuel Cycle Technology Subcommittee. Other Commission members include John Rowe, CEO of Exelon Corp. and BPC Board Member, as well as the Honorable Philip R. Sharp, President of Resources for the Future, and Richard A. Meserve, President of the Carnegie Institution, both members of the BPC’s former energy project, the National Commission on Energy Policy.
Posted in Energy Project
The 2013 Sequester May Not Be What You Think
Next year's cuts will occur regardless of the spending levels that Congress chooses to appropriate
By Loren Adler and Shai Akabas
We have spent a lot of space on this blog discussing the details of the Budget Control Act’s (BCA) sequester that is set to take effect on January 2, 2013, but one important aspect that has not received enough attention is the unique form that the sequester takes for fiscal year (FY) 2013.
As we explained in our previous post, the sequester is split evenly between defense programs (function 050) and non-defense programs (every budget function besides 050) for each of the nine years from 2013-2021. This works out to approximately $55 billion in annual cuts to each of defense and non-defense. While the defense cuts fall almost exclusively on discretionary defense accounts, the non-defense cuts are distributed among discretionary programs, Medicare providers, farm programs, Affordable Care Act exchange subsidies, and other smaller mandatory programs.
Posted in Debt Reduction Task Force, Economic Policy Project
Daschle and Lott: Compromise, Sense of Purpose Still Possible in Congress
Lincoln: "Many men can withstand adversity. If you want to test a man's character, give him power."
Eric Larson and Michael Stubel contributed to this post.
Last week, former Senate Majority Leaders Tom Daschle and Trent Lott spoke at BPC as part of the “On Leadership” Speaker Series. The event, sponsored by the Henry M. Jackson Foundation, offered Senators Daschle and Lott a platform to reflect on leading the Senate and their personal approaches to the role of majority leader.
Posted in Democracy Project
Three Reasons Why $1.2 Trillion Isn’t Really $1.2 Trillion
Issues of timing, interest payments and additional outlays would complicate the sequester's impact
By Loren Adler and Shai Akabas
Kevin McGrath contributed to this post.
The Joint Select Committee on Deficit Reduction (JSC) was tasked with reaching consensus on at least $1.2 trillion in savings over the next decade. If achieved and voted into law, this would have – all else equal – made the total U.S. debt burden at the end of 2021 at least $1.2 trillion less than it otherwise would have been.
Posted in Debt Reduction Task Force, Economic Policy Project
Energy Project Releases Report on Opportunities and Challenges for Shale Gas
A look at the economic, environmental and energy security implications of expanded natural gas production
By David Rosner
Lourdes Long contributed to this post.
Last week, BPC’s Energy Project board released a report, Shale Gas: New Opportunities, New Challenges. The report explores the economic, environmental, and energy security implications of expanded natural gas production from shale formations in the United States.
The report is a product of the 20-member BPC Energy Board that includes CEOs from the oil and gas industries, former top government officials from both parties, environmental group representatives, state regulators, and economists, among others.
Posted in Energy Security Initiative, Energy Project
What We're Reading: January 23
Throughout the week, BPC's Housing Commission will highlight news articles that address critical developments in housing policy. Any views expressed in the content posted on this forum do not necessarily represent the views of the Commission, its co-chairs or the Bipartisan Policy Center.
Fannie, Freddie overhaul unlikely
By Vicki Needham
The Hill
"An overhaul of Fannie Mae and Freddie Mac is unlikely again this year despite recent Republican efforts to move the issue up the agenda. Congressional Republicans, along with some Democrats — and even GOP presidential candidate Newt Gingrich — are renewing calls to craft an agreement to reduce the involvement of Fannie and Freddie in the nation's mortgage market. But without a broader accord, passage of any legislation this year is slim, housing experts say." Read more here.
Posted in Housing Commission
Housing Expert Forum: What should the federal government do to address the inventory of foreclosed properties?
Welcome to the BPC Housing Commission expert forum! This forum is intended to foster interactive and substantive discussion about pressing housing issues. Each month contributors from different parts of the housing sector will be invited to respond to a discussion topic. Guest posts will feature prominently on BPC's website, as well as be shared regularly with Housing Commissioners to help inform their work.
Have a pressing question you’d like us to consider? Please leave it in the comments section. We encourage you and our expert bloggers to add comments, contributing to the national dialogue on solutions for the future of the housing sector.
Expert bloggers are not members of BPC's Housing Commission. Any views expressed on this forum do not necessarily represent the views of the Housing Commission, its Co-Chairs, or the Bipartisan Policy Center.
What should the federal government do to address the inventory of foreclosed properties?
Clearing the Housing Market
By Mark A. Calabria
Since the bursting of the housing bubble, the number of vacant homes, held off the market, has increased over 1.6 million, while the number of vacant homes for sale or rent has increased almost 800,000. Clearly we have a surplus of housing. Not all, but many of these are vacant as the result of foreclosure. Once they have completed the foreclosure process, these homes will add to supply, potentially depressing prices further.
Posted in Housing Commission
D.C. Leading the Charge for Healthier Schools
Why the Healthy Schools Act offers an empowering template for school districts across the country
By Leah Ralph
Few people are aware that the District of Columbia has emerged as a national leader in school health over the last year. In May 2010, the D.C. City Council unanimously passed the D.C. Healthy Schools Act, the most comprehensive, and progressive, school-based wellness legislation in the country. This landmark act takes significant steps to better nutrition and address hunger among District students by improving school meals, increasing physical activity and strengthening school wellness policies.
On Transportation, Celebrate the Possible
In an era of constrained resources, the costs associated with high-speed rail can be daunting. Incremental improvements can still go a long way.
By Emil Frankel
Investment in the most beneficial intercity passenger rail projects can bring both short-term and long-term economic returns -- construction and construction-related jobs right away and improved access to permanent jobs and greater labor market mobility in the long-term.
Posted in National Transportation Policy Project
What We're Reading: January 17
Throughout the week, BPC's Housing Commission will highlight news articles that address critical developments in housing policy. Any views expressed in the content posted on this forum do not necessarily represent the views of the Commission, its co-chairs or the Bipartisan Policy Center.
Senate Republicans Criticize Fed on Housing Advocacy
By Alan Zibel
The Wall Street Journal
"Top Federal Reserve officials came under fire on Capitol Hill on Tuesday as Republicans criticized the central bank for advocating more steps to aid the battered U.S. housing market. In a letter sent to Fed Chairman Ben Bernanke, Sen. Orrin Hatch (R., Utah) criticized a paper published by the Fed last week that called for more action to stabilize the troubled sector of the economy. The paper, an unusual step for the Fed, came as officials at the central bank have worried that millions of Americans can’t refinance their home loans and take advantage of low interest rates engineered by the central bank. However, Hatch argued that the Fed shouldn’t move so aggressively into housing policy. Publishing a paper and advocating policy positions on housing oversteps the central bank’s mandates of keeping unemployment and inflation low, wrote Hatch, the top Republican on the Senate Finance Committee." Read more here.
Posted in Housing Commission
2011 Year in Review
Before closing the book on 2011, we take a final look back at the top moments from an exciting year
Michael Stubel contributed to this post.
In the last 12 months, BPC has launched programs to address housing and nutrition and physical activity issues, renewed our commitment to energy and health policy, and carried on a budding tradition with the Third Annual Political Summit in New Orleans.
BPC’s Debt Reduction Task Force, which garnered widespread attention for its 2010 report, Restoring America’s Future, was a leading voice for an “everything must be on the table” approach to the nation’s long-term fiscal problems. The Economic Policy Project’s Debt Limit Analysis proved to be an influential tool in educating the public on the consequences of a delay in raising the debt ceiling. In the midst of the Arab Spring, the National Security Project released timely reports on stabilizing fragile states, including Egypt and Yemen. The National Security Preparedness Group (NSPG) published a widely referenced report card on the status of the 9/11 Commission recommendations. You get the idea—it was a busy year! Here are our top 11 highlights for 2011:
Stay Connected
