May 13, 2011
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Read articles from the May 13th edition, including deficit reduction, Senate budget resolution, and House appropriations.
- CHN: Deficit Reduction and Raising the Debt Ceiling
Next week the U.S. Treasury Department is set to reach the $14.3 trillion limit on the amount the federal government can borrow, known as the debt ceiling. When spending on existing legal obligations to pay Social Security and Medicare benefits, military salaries, interest on the national debt, tax refunds, and other payments exceeds the revenues Read More »
Posted in Budget and Appropriations, Economy Comments Off - CHN: Senate Budget Resolution: Maybe Next Week?
Senate Budget Committee Chair Kent Conrad (D-ND) has been working to secure support for his FY 2012 budget plan among committee Democrats. He needs every one of them if the budget is to pass, since no Republicans are expected to vote for it. In initial discussions, Senator Sanders (I-VT) has been prominent in seeking fewer Read More »
Posted in Budget and Appropriations, Economy Comments Off - CHN: How Low Can You Go; House Appropriators Start to Carry Out FY 2012 Budget Cuts
New Table with Comparisons to FY 2010 and FY 2011. Congress’ impetus to cut spending rushed along on many fronts this week. While Speaker John Boehner (R-OH) called for $2 trillion in cuts over ten years before he would support a debt ceiling increase (see article about the debt ceiling in this issue), appropriators in the House set Read More »
Posted in Budget and Appropriations Comments Off
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