March 16, 2017
The President’ budget proposal appears true to his campaign promises and includes the following elements:
Budget Blueprint for 2018:
• provides for one of the largest increases in defense spending without increasing the debt;
• significantly increases the budget for immigration enforcement at the Department of Justice and the Department of Homeland Security;
• includes additional resources for a wall on the southern border with Mexico, immigration judges, expanded detention capacity, U.S. Attorneys, U.S. Immigration and Customs Enforcement, and Border Patrol;
• increases funding to address violent crime and reduces opioid abuse; and
• puts America first by keeping more of America’s hard-earned tax dollars here at home.
You can read the full budget proposal here: https://www.whitehouse.gov/sites/whitehouse.gov/files/omb/budget/fy2018/2018_blueprint.pdf
October 4, 2016
At the close of Fiscal 2016 (Oct.1 – Sept. 30), the national debt had reached $19.57 trillion. That is up $1.42 trillion since the previous fiscal year ended. (When President Obama took office, the national debt stood at $10.6 trillion. By the time he leaves office, he will have doubled the national debt by adding $10 trillion of fiscal liabilities.) Click the graphic above for more details on the federal FY 2016 budget.
April 13, 2016
Some people are unable to work due to injury, illness or other physical limitation. These people should, and do, have access to Disability benefits through Social Security. Some people are able to work, but are temporarily displaced due to layoffs, technology changes or other shifts in the work force. These people should, and do, receive Unemployment Insurance benefits. But according to the GAO, in 2014, the US government paid $1.3 billion in disability payments to people who were also receiving unemployment benefits. Apparently, this mostly wasn’t fraud but incompetence by the Social Security Agency. You can read more about this error and other negligent actions resulting in wasted tax dollars here.
February 2, 2016
January 27, 2016
In CBO’s projections, growing deficits drive up debt over the next decade, as spending rises and revenues remain relatively flat as a share of the economy… If current laws generally remained unchanged, the deficit would grow over the next 10 years, and by 2026 it would be considerably larger than its average over the past 50 years, CBO projects. Debt held by the public would also grow significantly from its already high level.
The Congressional Budget Office released it annual report on Monday. It reports an increase of deficit spending this year of about $15 billion ($544 billion total) and projects continues increases in deficit spending. Of course these deficits have an effect on federal debt. In 2008, the national debt was 39.3% of the GDP. Since then it has grown to 73.6% of the GDP and should reach 75.6% this year. The CBO estimates it will climb to 86% in 2026.
You can read the full CBO report here.