Tag:

Budget Control Act

Latest Headlines

Latest Headlines

Ryan budget plan bolsters defense spending at the expense of domestic programs

House Republican budget leaders released a fiscal 2015 plan that would bolster defense spending, but to the detriment of domestic programs. The plan, released April 1 by Sen. Paul Ryan (R-Wisc.), seeks to cut spending by $5.1 trillion over the next ten years and sets a topline of $3.66 trillion for fiscal 2015 with discretionary spending adhering to the Ryan-Murray budget agreement at $1.014 trillion.

Ten year deficit projection shrinks from 2010 level, CBPP says

Project ten-year deficits shrunk since 2010 by almost $5 trillion due federal program cuts and increased revenue, said a Center on Budget and Policy Priorities report.

Sequestration struck American citizens, federal workforce

Sequestration caused Internal Revenue Service to help about 300,000 fewer taxpayers, the Agriculture Department to give food stamp aid to fewer people in need and agencies to furlough more than 770,000 workers, a March 6 Government Accountability Office report says.

DoD budget plan ignores sequestration in out years

Defense Secretary Chuck Hagel told service leaders to ignore sequestration in the out years when drawing up force levels in the DoD five year budget plan.

Sequestration caused decreased Coast Guard counternarcotic deep sea patrols

Faced with $200 million in mandatory cuts required by sequestration, the Coast Guard responded by decreasing drug interdiction efforts along ocean transit routes, Coast Guard Commandant Adm. Robert Papp said. He said the lessened Coast Guard presence in maritime routes between South and Central America resulted in about a 30 percent reduction in drug interdiction.

DoD future costs will far exceed sequestration caps, CBO says

Defense Department costs between 2014 and 2021 will increase far beyond the caps set by the Budget Control Act, Congressional Budget Office analysis of the DoD future years defense plan report. The CBO conducted its projection of DoD base budget costs and said it would be about $30 billion higher than the DoD projected in the FYDP.

Sequestration cut $4 billion from intelligence budget in fiscal 2013

Sequestration cut an already-declining intelligence community budget by more than $4 billion in fiscal 2013, recently released statistics from the Defense Department and the National Intelligence Director show.

Q&A: AAAS's Matt Hourihan on the shutdown and science funding

The government shutdown, now in its third week, has had considerable impacts on the world of science, beyond the science activities that federal agencies perform themselves. FierceGovernment spoke with Matt Hourihan of the American Association for the Advancement of Science about the challenges facing scientists and researchers as a result of the shutdown and the overall fiscal climate.

Federal IT spending to plateau for next 5 years, says TechAmerica Foundation

Total known and unclassified federal information technology spending will hover around $70 billion annually through fiscal 2019 when measured in today's dollars, predicts the TechAmerica Foundation in its annual near-term  forecast. The real-dollar stagnation in IT spending predicted by the foundation will disrupt agency attempts at IT transformation, said Trey Hodgkins, head of TechAmerica's global public sector government affairs policy team.

Finance industry sounds the alarm on default

"The documents are not structured for this. Systems have not been set up for this," said Ken Bentsen, president of the Securities Industry and Financial Markets Association. "No one's ever thought that you wouldn't pay Treasurys in the same way you would with a corporate debt offering or a municipal debt offering."