Ask Experts Questions for FREE Help !
Ask
    tomder55's Avatar
    tomder55 Posts: 1,742, Reputation: 346
    Ultra Member
     
    #1

    Jul 27, 2022, 04:23 AM
    Congress needs to take a #2 Ticonderoga pencil to budgeting
    There is so much garbage in the budget that it would be easy to reduce it . Let's start with the simple things . The CBO has identified $432 billion in the budget for expired appropriations listed as 402's (direct transfers to the states )

    According to the report

    • More than 70 percent of the expired authorizations specified amounts of annual funding that, when combined, totaled $242 billion for the year when they were last in effect. The remainder authorized indefinite appropriations of amounts needed to carry out particular programs or functions.
    • In all, CBO identified $432 billion in funding contained in appropriation legislation for fiscal year 2021 for which authorizations had expired. That funding can be attributed to 402 expired authorizations contained in 147 laws: $336 billion is associated with specified authorizations and $96 billion with indefinite authorizations.
    • More than two-thirds of authorizations set to expire during 2021 specify funding amounts that total $816 billion this year. Most of that funding is for defense activities, which are authorized annually.

    Expired Authorizations of Appropriations

    CBO identified 1,068 authorizations of appropriations—stemming from 274 laws—that expired before the beginning of fiscal year 2021 and were not reauthorized as of January 13, 2021.
    Expired and Expiring Authorizations of Appropriations: Fiscal Year 2021 | Congressional Budget Office (cbo.gov)

    That would appear to be an easy fix. If the money is not going to the item then where is it going ? My guess is that there is a lot of pocket lining going on.
    Many states will include an item in their budget only because it is mandated by the government and has direct payments as incentives to the state . Highway funding often works that way.As an example , Iowa passed a $8.2 billion budget, The state received $9 billion from the federal government in 402's . This does not include the pandemic related stimulus funds.

    Senator Mike Braun of Indiana wants to do something about it . He is proposing a budget that will try to include some fiscal sanity .

    The Braun Budget | Senator Mike Braun (senate.gov)

    His budget proposal would balance spending and revenues over a decade ;saving $4.5 trillion without raising taxes or creating new taxes . He would place a cap on total spending, excluding interest, to a percentage of potential GDP. Under this rule, in year 10, spending would be held at 17.5 percent of potential GDP, which is the 50 year average for revenue, and would place the budget on a pathway to be balanced. within 10 years . He would end ear mark programs and would end programs that have automatic renewal. It would restore the federalism envisioned by the framers . States have become much to dependent on federal monopoly bucks . The transfers come at too high a cost . States lose autonomy to the National Leviathan .
    jlisenbe's Avatar
    jlisenbe Posts: 5,020, Reputation: 157
    Uber Member
     
    #2

    Jul 28, 2022, 09:38 AM
    Thank you, Mr. Biden. We are now officially in a recession. The Biden admin's solution, of course, is to RAISE taxes. Unbelievable.

    On Thursday, the Commerce Department estimated GDP fell by 0.9% in the second quarter after falling by 1.6% in the first quarter, meaning the economy has contracted for two consecutive quarters, meeting the traditional definition of a recession long used by economists.
    Commerce Department confirms recession -- Team Biden can run but they can't hide | Fox Business

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Stabbed in leg with pencil [ 5 Answers ]

I got stabbed in the leg, upper thigh area, with a pencil 2 weeks ago. There was a huge bruise around that area. Now the bruise is almost gone, but I have had pain in the same leg from my knee to my hip. The pain is not where I got stabbed though. The pain is like a sharp stabbing feeling, that...

Laurentian pencil crayons [ 1 Answers ]

Where can I purchase laurentian penical crayons?

. If there is collision between the president and Congress, can Congress restrain the [ 1 Answers ]

Can anyone help on this topic? I have to find all the information I can on this, so I can write a 2 to 4 page essay about. Thanks!

The story of the pencil [ 1 Answers ]

A boy was watching is grandmother write a letter. At one point, he asked: 'Are you writing a story about what we've done? Is it a story about me?' His grandmother stopped writing her letter and said to her grandson: 'I am writing about you, actually, but more important than the words...


View more questions Search