Category Archives: Federal deficit

The federal budget

The House continues work on the first two appropriations bills of the FY-2016 budget, while the Senate and House named budget conferees last week to negotiate a concurrent budget resolution, with a goal to finish conferencing work within the next two weeks. On Wednesday, subcommittees of the House Appropriations Committee approved the Energy-Water appropriations bill and theContinue Reading

Barron’s ‘Economic Beat’ writer labels federal debt numbers scary

Gene Epstein of Barron’s has been perusing the latest data surrounding the federal debt, and he doesn’t like what he sees. Over the past several years, the gap between tax revenue and spending has been unusually wide. In fiscal year 2009, coinciding with the Great Depression, federal receipts as a share of nominal gross domesticContinue Reading

Cato’s Downsizing Government charting program offers new tool

Chris Edwards passes along some interesting information about his project to keep tabs on federal government spending. The Downsizing Government charting program now contains the latest federal budget data.   www.downsizinggovernment.org/charts/   For fun or research, you can instantly chart spending on about 500 federal agencies. (I’m told the charts look better in Chrome andContinue Reading

Bad news for our credit score

Alex Adrianson of the Heritage Foundation’s “Insider Online” blog assesses the impact of the federal debt on the average household. The federal government’s official debt and deficit figures provide an incomplete account of how deep in the red the federal government really is. Those figures are based on cash accounting rather than the more accurateContinue Reading

The White House is actually proud of this…

WhiteHouse.gov has produced an online tool, the Taxpayer Receipt, and it’s fascinating.  Simply put in how much you paid in federal taxes last year (income tax from your 1040, and Social Security and Medicare Taxes from your W-2) and this tool will tell you how much of your tax dollars were spent on various areasContinue Reading

A successor to Coburn on the ‘waste watch’ front

With Tom Coburn retired now from the U.S. Senate, it appears that a freshman Republican U.S. representative hopes to take on the task of identifying some of the federal government’s most wasteful spending. Casey Harper reports for the Daily Caller. Freshman Republican Rep. Steve Russell laid out 10 of the worst instances of government wasteContinue Reading

Budget Control Act living up to its name

Alex Adrianson documents for the Heritage Foundation’s “Insider Online” blog some good news surrounding federal legislation designed to control government spending. He quotes Stephen Moore’s analysis: Spending cuts have been positive for the economy. Total government spending as a percentage of GDP has plummeted from 24.4 percent in 2009 to 20.3 percent in 2014. FromContinue Reading

What’s going on in Washington….?

Congress is in recess this week.  They are scheduled to return the week of April 13th.  Here are some of the major actions that took place last week… The House approved the Medicare Access and CHIP Reauthorization Act (HR 2) by a strong bipartisan vote of 392-37. The measure would permanently replace the Medicare SustainableContinue Reading