Washington -- The Senate Budget Committee on Thursday unanimously adopted the "Johnson budget window" - a 30-year calculation of projected federal revenue, spending and deficits, in addition to the customary 10-year projection.
Johnson's amendment directs the Congressional Budget Office (CBO) to express its long-term projection in dollar terms as it releases its annual budget and economic outlook, which Congress uses as it plans the federal budget for the following year. That form, said Johnson, will help Americans and Congress better understand the financial situation of the country and the effect of proposed reforms to federal programs that are piling debt onto our children and grandchildren.
“We are talking about a 10-year budget window problem, and what we really have is a 30-year demographic problem,” Johnson said introducing the amendment to the committee. “Hopefully this can be a very bipartisan bill to provide the information so that America collectively understands the depth of the problem, and we can stop deluding ourselves in terms of what we really need to be talking about.”
The adoption means the Johnson 30-year budget window will be part of the budget resolution the entire Senate will vote on next week.
"Before you can solve a problem, you have to define it," Johnson said afterward. "This is a step toward getting Congress the information it needs to develop long-term solutions and move the country back on the path toward long-term fiscal responsibility. That is the only way we can keep this country's promises."