Their Budget Never Balances—Ever The House budget balances in ten years, but, like Senate Democrats, the White House says their budget never balances—ever. $8.2 Trillion in New Debt Accounting for the cost of eliminating the sequester and removing the budget gimmicks, net deficit reduction is only $119 billion. Additional deficit increase in FY2013: $61 billion […]
It is an explicit and unambiguous tenet in federal law that those granted entry into the U.S. must be able to support themselves financially. But the Obama Administration has aggressively defied this strict federal statute. What are new promises worth when existing law is unilaterally waived? Last year, the Ranking Members of Budget, Finance, Judiciary, […]
Alarmed by the unsustainable growth of Medicare’s unfunded obligations and the direct threat this posed to seniors, Congress in 2003 enacted a legal requirement that the President submit legislation if the Medicare Trustees issue a funding warning for the program as part of their annual report. This provision of federal law is commonly known as […]
This chart displays projected federal spending on federal welfare programs over the next ten years, based on data from the Congressional Research Service and Congressional Budget Office. These figures do not count state contributions to federal welfare programs (primarily on low-income health assistance) which brought total welfare spending in FY2011 to more than $1 trillion—dwarfing […]
Welfare spending is now the largest item in the budget—and will continue to grow every year. According to data from the Congressional Research Service, total spending on means-tested poverty programs in FY2011 was around $1 trillion, more than was spent on Social Security, Medicare, or defense. CRS data also reveals that spending on these programs […]
Based on data from the Congressional Research Service, cumulative spending on means-tested federal welfare programs, if converted into cash, would equal $167.65 per day per household living below the poverty level. By comparison, the median household income in 2011 of $50,054 equals $137.13 per day. Additionally, spending on federal welfare benefits, if converted into cash […]
Ranking Member Sessions and the minority staff of the Senate Budget Committee requested from the nonpartisan Congressional Research Service (CRS) an overview of cumulative means-tested federal welfare spending in the United States in the most recent year for which data is available (fiscal year 2011). The results are staggering. CRS identified 83 overlapping federal welfare […]
“Obama claims more than $4 trillion in deficit savings over the coming decade. But it you peel away accounting tricks and debatable claims on spending cuts, it’s more like $1.1 trillion. Republicans say it’s even less because of creative bookkeeping used to mask spending on Medicare reimbursements to doctors.” Associated Press, “Candidates’ deficit plans don’t […]
President Obama has staked his entire fiscal reputation on the claim that he has “a balanced plan to reduce our deficit by $4 trillion.” As demonstrated recently, that $4 trillion claim, and the assertion that his plan would “pay down our debt,” is scandalously false. But the heart of the “balanced” argument is that the […]
The law requires action by the President when Medicare’s finances are determined to be on an unsustainable course. In any year when the program’s Trustees issue a Medicare funding warning—defined as when more than 45 percent of Medicare outlays are expected to be paid for out of the Treasury’s general fund, which suggests impending insolvency—the […]
“The White House predicts this year’s federal budget deficit will end up at $1.2 trillion, marking the fourth consecutive year of trillion dollar-plus deficits during President Barack Obama’s administration… The White House report [was] released Friday afternoon with the Olympics poised to distract voters for two weeks…” Associated Press, “Administration projects $1.2T 2012 budget deficit,” […]
President Obama today released an update to his fiscal year 2013 budget. Federal law requires the President to update his February budget submission by July 16 each year to account for revised estimates that may be necessary because of changes in the economy and actual spending patterns observed over the intervening months. The update provides […]
1,164 days have elapsed since Senate Democrats last offered a budget plan for the nation. Since that time, we’ve spent $11 trillion and added $4.7 trillion to the debt. The unemployment rate has now been above 8 percent for 41 consecutive months. Higher debt leads to slower economic growth. Empirical studies show that high levels […]
“The task now before the country is to fully repeal this onerous and unworkable law. If it is not repealed, it will cause Americans’ personal health costs—and our nation’s debt—to rise disastrously. It will massively expand the power and reach of the federal bureaucracy and its intrusion into our lives and livelihoods. This bill is […]
April 29, 2009 – The last time the Democrat-led Senate adopted a budget resolution. Also the last time the Majority brought a budget plan to the floor. April 22, 2010 – The Budget Committee completes action on a mark-up and reports a budget out of committee, but the Democrat majority chooses to keep its own plan […]