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1000 days later, we are operating without any plan. Oh, the irony that it is today — I can’t wait to hear about it during the State of the Union tonight. Just like last year’s State of the Union. The budget Obama tried to pass shortly thereafter, modeled on the ideas espoused during his speech, failed 97-0. It was so outrageous, not one Senator of either party would put his name to it.
Senate Majority Leader Harry Reid (D-NV) said it would be “foolish” to have a budget.
“There’s no need to have a Democratic budget in my opinion,” Reid said in a May interview with the Los Angeles Times. “It would be foolish for us to do a budget at this stage.”
The breakdown in the Senate came after Sen. Kent Conrad (D-ND), chairman of the Budget Committee, failed to get a consensus among panel Democrats last year on any plan that was proposed to the caucus.
The previous Democrat-led Congress had ample time to do so. With President Obama in theWhite House, Senate Majority Leader Harry Reid and former Speaker Nancy Pelosi had the power to implement any budget they chose. Unfortunately, they punted on their responsibilities, choosing to pass legislation creating a national energy tax and an unpopular health-care law instead.
The last time the Senate passed a budget was on April 29, 2009.
Since that date, the federal government has spent $9.4 trillion, adding $4.1 trillion in debt.
As of January 20, the outstanding public debt stands at $15,240,174,635,409.
Interest payments on the debt are now more than $200 billion per year.
President Obama proposed a FY2012 budget last year, and the Senate voted it down 97–0. (And that budget was no prize—according to the Congressional Budget Office, that proposal never had an annual deficit of less than $748 billion, would double the national debt in 10 years and would see annual interest payments approach $1 trillion per year.)
The Senate rejected House Budget Committee Chairman Paul Ryan’s (R–WI) budget by 57–40 in May 2011, with no Democrats voting for it.
In FY2011, Washington spent $3.6 trillion. Compare that to the last time the budget was balanced in 2001, when Washington spent $1.8 trillion ($2.1 trillion when you adjust for inflation).
Entitlement spending will more than double by 2050. That includes spending on Medicare, Medicaid and the Obamacare subsidy program, and Social Security. Total spending on federal health care programs will triple.
By 2050, the national debt is set to hit 344 percent of Gross Domestic Product.
1. PRESIDENT'S BUDGET REQUEST. After asking federal agencies how much money they need to get their work done, the White House compiles a budget request and submits it to Congress on or before the first Monday in February.
The budget request shows broadly how the president wishes to implement fiscal policy -- how much he aims to raise in taxes, how much he wants to spend, and how much the gap between the two will add to the country's debt.
2. CONGRESS DRAWS UP ITS PLAN
After the budget request is submitted, the House and Senate Budget committees develop their own "budget resolution" -- a guide that states how much revenue the government expects to collect and how much it will spend.
Congress is supposed to approve this resolution by April 15, but it often misses that goal. Congress has failed to adopt a resolution at all three times over the past 10 years.
Spending totals are defined in two ways: authority, or how much money a federal agency is authorized to spend, and outlays, or how much that agency will actually spend in the coming year.
3. CUTTING THE CHECKS
After the budget resolution passes, the 12 appropriations subcommittees in each chamber set funding levels for individual government programs and write up detailed instructions for the agencies that oversee them -- such as how to divide highway construction money among individual projects.
Lawmakers often insert "earmarks" into these spending bills, which ensure funding for specific projects in their home districts that are not requested by the president.
Originally posted by jibeho
reply to post by links234
Yes he has and its all garbage. The Dems in Congress won't even touch his numbers. Where is Obama's demand for accountability and results from Congress? He just seems to wipe his plate clean after submitting his mess and never looks back. I used to work for a guy like that. It's not important to Obama. The only important issue for him is the funding of his personal programs and his desire to bypass congress to get them funded.
Passing a budget and actually balancing a budget would result in a spending spree freeze for Obama. He does not want that.
The White House has “no opinion” on whether the Senate should pass a budget, White House press secretary Jay Carney told a press briefing Wednesday.
ABC News’ Jake Tapper asked Carney whether President Obama agreed with comments by Federal Reserve Chairman Ben Bernanke at a hearing Tuesday to the effect that the Senate’s failure to pass a budget creates uncertainty for business firms; or with a recent assertion by Sen. Harry Reid (D-Nev.) that the Senate does not need to bring a budget to the floor this year.
“The White House has no opinion on Chairman Bernanke’s assessment of how the Senate ought to do its business,” Carney replied. “What the president believes is important is that the Budget Control Act that was signed into law by him last year provides the top line spending caps for the coming budget, and he will obviously meet those in the budget proposal he puts forward,” he continued.
As CNSNews.com reported earlier, House Minority Whip Steny Hoyer (D-Md.) told reporters on Capitol Hill on Tuesday, “The fact is, you don’t need a budget. We can adopt appropriations bills. We can adopt authorization policies without a budget. We already have an agreed-upon cap on spending.”