The federal government ended fiscal 2014 with a $483 billion budget deficit, the White House announced Wednesday. That's $197 billion less than fiscal 2013 and $165 billion less than what the White House predicted for fiscal 2014. The numbers, which were announced by Treasury Secretary Jack Lew and Office of Management and Budget Director Shaun Donovan, came in far lower than the trillion dollar deficits the administration announced during the financial crisis at the beginning of President Obama's second term.
A Homeland Security Department official said the department is in "dire need" of legislation that would address cyber threat information sharing and help it build its cybersecurity workforce. "We are not without tools, but we do have a dire need for legislation to better equip us," said Mayorkas, during an Oct. 1 Washington Post event.
The postal service lost revenue in 2012 and 2013 due to reduced spending from commercial customers – a segment making up 71 percent of USPS's customer base. The magnitude of the problem has a "significant impact" on the postal service's revenue and financial outlook, says the office of inspector general.
Already more than $1 billion over budget and a dozen years behind schedule, the Homeland Security Department's planned consolidated headquarters could face more such problems if current estimates and plans aren't revised, a Government Accountability Office investigator said.
With time running out before the fiscal year ends, the House Wednesday night overwhelmingly approved a stop-gap measure to fund the government through Dec. 11 once the new fiscal years starts Oct. 1. Under the bill (H.J.Res.124), which passed by a vote of 319-108, the government would be funding at fiscal 2014 levels and doesn't address federal employee pay raises. That paves the way for President Obama's authorization of a 1 percent pay raise for feds.
The House won't vote Thursday on a stopgap spending measure to fund the government for fiscal 2015 through Dec. 11. The Associated Press reported Sept. 10 that House Republican leaders are postponing the vote so they can weigh President Barack Obama's request for the authority to train and equip Syrian rebels battling Islamic State militants.
The House Appropriations Committee proposed a stopgap spending measure Tuesday that would fund the government until Dec. 11. The continuing resolution would fund the government in the first few months of fiscal 2015 at an annual rate of $1.012 trillion. Most programs wouldn't see any change under the CR, House Appropriations Chairman Hal Rogers (R-Ky.) says in a Sept. 9 statement, which would kick in if Congress doesn't pass its appropriations bills by Oct. 1, the start of the new fiscal year.
A recent survey found that 62 percent of government chief information officers said they don't have sufficient resources to do their jobs effectively.
Despite a decrease in federal funding for basic research at universities and colleges in fiscal 2011 and 2012, higher education institutions received more than half of the $31 billion in total federal obligations for basic research. However, a new National Sciences Foundation report also found that funding is expected to improve.
Interest payments on the federal debt are expected to triple over the next ten years, making them the highest percent of the gross domestic product since 1996, a Sept. 3 Congressional Budget Office report says. "Interest payments on that debt represent a large and rapidly growing expense of the federal government," the report says.