The Congressional Budget Office today released its periodic update to the federal government’s spending and revenue projections. This report, known in Washington, D.C. circles as the “baseline,” provides a glimpse into the federal government’s addiction to spending. Supporters of uncontrolled spending trumpet that the federal deficit has been cut in half over the last several years, but the real story is lurking below the surface. Washington’s spending addiction is creating an entitlement spending tsunami.
This morning, the Congressional Budget Office (CBO) released its updated Budget and Economic Outlook report, known in Washington, D.C. parlance as the “baseline.” This report details CBO’s projections on federal spending and revenue for this year and into the future.
Yesterday’s Washington Post has an in depth—and very depressing—piece about Medicare fraud. The piece focuses on scammers taking advantage of Medicare’s payment systems to buy unnecessary motorized wheelchairs and scooters for Medicare enrollees and stick American taxpayers with the bill.
Since the 1960s, the Catalog of Federal Domestic Assistance (CFDA) has provided a list of all federal subsidy programs. That includes subsidies to individuals, businesses, nonprofit groups, and state and local governments. The CFDA includes subsidies for farmers, retirees, school lunches, rural utilities, the energy industry, rental housing, public broadcasting, job training, foreign aid, urban transit, and much more.
Last week the Senate voted to greatly increase health care spending for veterans. If the new spending were made permanent, it would cost at least $385 billion over 10 years, as Nicole Kaeding noted. The House version of the bill would cost at least $477 billion if made permanent. The chambers will now work out a compromise bill, and—going out on a limb here—I’m guessing that the compromise is also a budget buster.
We’ve learned about what a huge and dysfunctional agency Veterans Affairs is in recent weeks. I had not realized that the agency added 100,000 workers in just the past seven years.
In the months and years after the 9/11 disaster, federal policymakers did what they usually do after crises: they increased spending and seized more power. At the Bush administration’s urging, Congress created the Department of Homeland Security in 2002 as a complex amalgamation of 22 different federal agencies.
I have posted an updated plan to cut spending by one fifth and balance the federal budget. These cuts are not the only ones needed, but they are a mix of reasonable reforms spread broadly across the government.
Did you know that the White House has a fleet of 19 helicopters? The Washington Post today discusses efforts to replace this fleet of aging Sikorsky’s with 21 new vehicles yet to be procured. The fleet is used by the president, vice president, and cabinet secretaries.
Fifty years ago, one of the biggest-spending presidents in U.S. history was settling into office after coming to power the prior November. Lyndon Johnson signed into law Medicare, Medicaid, and hundreds of subsidy programs for the states and cities.