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Journal Article
Back to Fixing the Federal Budget Process
2012
Overview
Budget experts have watched the federal government's budget process fail over the last few years as the policy choices required to put the budget on a sustainable path grew more challenging. The basis for budget process reforms and for progress in stabilizing the debt must be a new national agreement on a rule or target for fiscal policy. The Peterson-Pew Commission has advocated enacting a debt target for the medium term -- and with it a comprehensive set of procedural changes intended to help policy makers adopt and sustain a multi-year fiscal plan to reach it. Unless directly involved in budgeting for their agencies, there is little that federal managers can do directly to repair the federal budget process. However, they can approach their work in the same spirit and apply some of the same principles guiding the Peterson-Pew Commission recommendations.
