The Committee for a Responsible Federal Budget is a bipartisan, non-profit organization committed to educating the public about issues that have significant fiscal policy impact. The Committee is made up of some of the nation's leading budget experts including many of the past Directors of the Budget Committees, the Congressional Budget Office, the Office of Management and Budget and the Federal Reserve Board.
In 1980, Robert Giaimo (D-CT) and Henry Bellmon (R-OK) both left Congress. Mr. Giaimo served 20 years as United States Representative including four years as Chairman of the House Committee on the Budget. Mr. Bellmon served 12 years as United States Senator and was the ranking Republican on the Committee on the Budget from its inception in 1975. The two fiscal policy leaders decided to convene a group including other former Budget Committee Chairmen, former Directors of the Office of Management and Budget, leading economists, and businessmen. The group concluded that the country needed an organization outside government committed to sound budget process. The Committee for a Responsible Federal Budget was incorporated June 10, 1981.
Since 2003, the Committee for a Responsible Federal Budget has been housed at the New America Foundation. New America is an independent, non-partisan, non-profit public policy institute that brings exceptionally promising new voices and new ideas to the fore of our nation's public discourse. Relying on a venture capital approach, the Foundation invests in outstanding individuals and policy ideas that transcend the conventional political spectrum. New America sponsors a wide range of research, published writing, conferences and events on the most important issues of our time.
The Committee for a Responsible Federal Budget runs a number of ongoing projects. Among them include US Budget Watch (www.usbudgetwatch.org), a project funded by Pew Charitable Trusts which has reported on important fiscal issues through and beyond the 2008 Presidential election. Through generous support from the Peter G. Peterson Foundation and Pew Charitable Trusts, the Committee also runs the Peterson-Pew Commission on Budget Reform. The Committee also monitors the extraordinary actions taken by the government during the current economic crisis through Stimulus.org (www.stimulus.org) and puts out regular reports and releases on various budgetary issues. In addition, the Committee also runs the Fiscal Roadmap project, created to help policymakers navigate the country's serious economic and fiscal challenges.