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Budget

Congress Drives the "Megabus" Off the Tracks

Even with the national debt at more than $22 trillion and trillion-dollar annual deficits beginning in fiscal year (FY) 2022, Congress continues full-speed ahead towards another fiscal disaster.  This week’s poor spending decision comes from H.R. 2740, an appropriations “megabus.”

California's Budget Projects a $22 Billion Surplus, Yet Wants Billions More in New Taxes

After 32 consecutive victories on the TV game show “Jeopardy,” James Holzhauer, a professional sports gambler from Las Vegas, Nevada, saw his incredible winning streak come to an end.  Finishing with $2,462,216 in total prize money, James fell just $58,484 short of the all-time record set by Ken Jennings in 2004 (it took Jennings 74 games to reach that mark).  While this is surely not the ending “Jeopardy James” had hoped for, he still goes home with just under $2.5 million.

RSC Budget Provides Only Clear Path Toward Fiscal Responsibility

The national debt stands at more than $22 trillion, with trillion-dollar deficits right around the corner.  Entitlement spending continues to rise and is projected to make up 60 percent of spending for Fiscal Year (FY) 2020.  Social Security will exceed its income in 2020 for the first time since 1982 and Medicare is set to become insolvent by out in 2026. 

House Subcommittee Concerned over "Too Big to Fail" Mentality at NASA

On Thursday, June 14, 2018, the House of Representative’s Subcommittee on Space met to discuss the rising cost and schedule overruns at the National Aeronautics and Space Administration (NASA).  These overruns were attributed to what NASA Inspector General Paul Martin described as a “too big to fail” optimism at the agency, lack of consequences for failing to complete programs on time, and an ignorance of the technical complexity of projects.

Rescission and the Trump Administration

Rescission is an abstruse presidential tool passed amid the Nixon administration under the Congressional Budget and Impoundment Control Act of 1974.

Myths and Realities: Earmarks

Reality:  Earmarks are not the answer to mitigating the extreme partisanship that exists in Washington and are have nothing to do with getting things done.

Connecticut and Pennsylvania Pass Budgets

As we finish our Halloween candy and start preparing for Thanksgiving, each of the fifty states has now passed its required budget.  As forty-nine of the fifty states require a balanced budget, which means the politicians can’t always resort to gimmicks and kick the can down the road like they do in Washington, D.C., the process of budgeting in state capitals takes considerable time and careful deliberation.  This year, for Connecticut and Pennsylvania, passage occurred way behind schedule. 

Connecticut Legislature Passes a Bipartisan Budget Plan

Faced with a budget deficit of $3.5 billion over the next two years, and three months overdue on a budget for fiscal years 2018 and 2019, Connecticut lawmakers face a difficult situation and must make tough choices.  In 2011 and 2015, the legislature tried to solve the state’s fiscal woes by passing big tax increases.  That’s why a vote in the wee hours of Saturday, September 16 is so impor

Congress Passes Continuing Resolution

On September 28, 2016, the U.S. Senate and, a few hours later, the House of Representatives passed a resolution that would continue the funding of the government through December 9, 2016 – narrowly missing the last day of this fiscal year, which ends on the September 30th.  Since Congress failed to pass the 12 individual appropriations bills (or a budget) before the beginning of the new fiscal year, the continuing resolution (C.R.) was necessary to prevent another government shutdown.

IRS Undermines Congressional Budgeting

In a July 2016 report, the Government Accountability Office (GAO) found that the Internal Revenue Service (IRS) could improve its budget data in its justifications to Congress.  The report found that the IRS, while it has taken steps to more effectively manage its budget, has not correlated its priorities to relevant appropriations accounts.  In its fiscal year 2017 justification, the IRS linked requests to priorities for increased funding, but failed to provide data on how much had been previously spent on each priority; as a result, t

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