Blog: The Fine Print / posts by Craig Jennings
The False Sense of Balance of a Balanced Budget Amendment
Apr 27, 2011 by Craig Jennings
With federal borrowing rapidly approaching its statutory limit, Washing politicians are falling all over themselves to figure out how to extract more budget concessions from President Obama and Senate Majority Leader Harry Reid (D-NV) in exchange for not throwing the world's financial markets into a panic.
Spending Caps: The House Budget Resolution by Another Name
Apr 25, 2011 by Craig Jennings
As the date approaches when the Treasury will meet the debt ceiling, the demands of the hostage takers House and Senate conservatives who are playing hard-to-get for their vote to up the ceiling are becoming known. And naturally, rather than put forth ideas that would make a serious attempt at reducing the federal budget deficit, these MOCs are demanding budget mechanisms designed to only limit spending.
House Votes to Shift Funds from Medicaid to High-Income Households
Apr 15, 2011 by Craig Jennings
In approving (235-193) House Budget Committee Chair Paul Ryan's (R-WI) proposed budget resolution. The spending blueprint, if enacted, would turn Medicare into a voucher program and drastically cut Medicaid funding as a means to cutting income tax rates for upper-income households (from 35 percent to 25 percent). Although the plan has no chance of becoming law, it does illustrate the Republican-controlled House's priorities - namely tax cuts for the rich and spending cuts for low-income programs and seniors.
Press Release: OMB Watch Statement on FY 2011 Continuing Resolution
Apr 15, 2011 by Craig Jennings
The continuing resolution agreement to fund the government for the remainder of fiscal year 2011, which was reached by President Obama, Senate Democrats, and House Republicans, is extremely disappointing. At a time when unemployment is close to nine percent, 23 million Americans are either underemployed or unemployed, and economic growth sputters, policymakers have decided that the most pressing problem facing the nation is the budget deficit. Rather than making adjustments where the pain will be felt the least, their solution is to cut nutrition, housing, and education spending, let tax cheats off the hook, and spend more money on an already bloated defense budget.
read in fullThe Ryan Plan: Budgeting for Big Business
Apr 7, 2011 by Craig Jennings
The House Budget Committee approved last night Rep. Paul Ryan's budget resolution proposal. What would House Republicans' do given their way? Write big checks to big businesses, cut taxes for the rich, and cut off health care, nutrition, and housing assistance for the poor.
read in fullFederal Spending Anxiety to Shut Off Spending Info Website
Apr 1, 2011 by Craig Jennings
At a time when federal spending is the top concern of everyone in Washington, Congress is about to turn off the federal website that tells us where those federal funds are going.
FY '11 Savings Lost to Continuing Budget Fight
Mar 18, 2011 by Craig Jennings
Although congressional combatants believe they are fighting a worthy budget battle, the collateral damage of not coming to agreement is accumulating. Robert Pear at the New York Times and Andy Sullivan at Reuters have reported two noteworthy pieces suggesting that when Congress finally gets its FY 2011 act together, the savings from whatever budget cuts result will significantly eroded by the waste that their dithering has caused.
House CR Would Cut Nuclear Safety Funding
Mar 15, 2011 by Craig Jennings
H.R. 1, the continuing resolution (CR) passed by the House in February that would cut some $61 billion from FY 2010 levels for the remainder of FY 2011 is no friend of nuclear safety. A rundown of the bill reveals the following cuts:
read in fullSpecial Interest Wish List Goes Along for the Ride on House CR
Mar 9, 2011 by Craig Jennings
In the early hours of Saturday, Feb. 19, the House of Representatives passed a budget plan to continue funding the operations of the federal government for the remaining seven months of fiscal year (FY) 2011. In addition to $65.5 billion in cuts to discretionary spending, the bill (H.R.
read in fullShutdown Averted; Next One Looms
Mar 2, 2011 by Craig Jennings
Voting 91-9 on H.J. Res. 44, the Senate postponed the threat of a government shutdown for two weeks.
read in full
