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Keyword: budget

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  • BUDGET 2014: Welfare spending will be capped at £120billion

    03/19/2014 9:11:04 AM PDT · by managusta · 9 replies
    The Mail ^ | 19 March 2014 | Matt Chorley
    Britain's welfare budget is to be capped at around £120billion-a-year to stop the benefits bill ballooning out of control. Chancellor George Osborne wants to limit the total amount the state spends on handouts, with ministers forced to face a Commons vote if costs spiral. Only pensions and Jobseekers Allowance will be excluded, meaning a raft of payments including pensioner benefits, income support, maternity pay and most housing benefit could be in the firing line. Mr Osborne argues that under Labour spending on benefits was 'out of control', with the number of people who have never worked doubling in a decade....
  • Health and Human Services Department Fiscal Year 2015 Budget

    03/12/2014 7:03:26 AM PDT · by Whenifhow · 9 replies
    http://www.c-span.org/ ^ | March 12, 2014 | c-span
    Secretary Kathleen Sebelius testified on the Health and Human Services Department fiscal year 2015 budget request.
  • Visits to national parks tumble on bad weather, federal shutdown

    03/10/2014 8:08:06 PM PDT · by Oldeconomybuyer · 10 replies
    Los Angeles Times ^ | March 10, 2014 | by Hugo Martin
    The partial government shutdown in October was largely to blame for a 3% drop in visitors to America's national parks in 2013, according to a report released Monday by the National Park Service. The country's 401 parks, historic sites and recreation areas drew 273.6 million visitors in 2013, about 9 million fewer than the previous year, according to the report. The 16-day government shutdown, sparked by a budget dispute in Washington, was responsible for reducing the visitation numbers by about 7.9 million, the report said. The communities near the parks lost about $414 million in spending by visitors because of...
  • 70% Of U.S. Spending On Writing Checks To Individuals

    03/10/2014 5:30:04 PM PDT · by 2ndDivisionVet · 23 replies
    Investor's Business Daily ^ | March 10, 2014 | John Merline
    Buried deep in a section of President Obama's budget, released this week, is an eye-opening fact: This year, 70% of all the money the federal government spends will be in the form of direct payments to individuals, an all-time high. In effect, the government has become primarily a massive money-transfer machine, taking $2.6 trillion from some and handing it back out to others. These government transfers now account for 15% of GDP, another all-time high. In 1991, direct payments accounted for less than half the budget and 10% of GDP. What's more, the cost of these direct payments is...
  • Journalists hide real numbers when reporting budget spin

    03/07/2014 3:45:30 AM PST · by afraidfortherepublic · 4 replies
    The Washington Examiner ^ | 3-6-14 | Scott Rasmussen
    The standard media coverage of President Obama's new budget claimed the proposals will cut $600 billion in spending over the next decade. It was just about impossible, though, to find any media story mentioning some basic numbers that belong in any story about a new federal budget. How much money is the federal government spending this year? How does that compare to what it spent last year, or expects to spend next year? Perhaps the reason for this failure is because the real numbers don't match up with the storyline. For example, in the current year, the federal government is...
  • Five jaw-dropping gimmicks in President Obama's budget

    03/06/2014 10:38:56 AM PST · by SeekAndFind · 9 replies
    Washington Examiner ^ | 03/06/2014 | Philip Klein
    President Obama's budget released Tuesday claims to reduce deficits by trillions of dollars, but a closer look at the details reveals that the deficit reduction is dependent on a number of gimmicks.Overall, Obama's budget for fiscal year 2015 still projects deficits of $4.9 trillion between 2015 and 2024 if all of his policies are adopted. But that is about $3 trillion less than what the Congressional Budget Office is projecting for the period and $2.2 trillion less than what the White House's own Office of Management and Budget is estimating for the period if there are no changes to current...
  • Classic Obama: FY2015 budget would hike taxes by $100 billion on the one thriving industry

    03/06/2014 7:34:58 AM PST · by SeekAndFind · 8 replies
    Hotair ^ | 03/06/2014 | Erika Johnsen
    The White House dropped President Obama’s FY2015 budget readout yesterday, and as the NYT rather aptly titled it, it amounted to little more than a “populist wish list” that doesn’t even try to look serious about addressing our runaway entitlement spending or ballooning national debt. It includes a lot more of the stimulus-spending-as-growth utter crapola we’ve been dealing with for the past five years, and to really demonstrate just how bass-ackwards his and the Democrats’ brand of economic thinking really is, we need look no further than what his would-be budget would inflict on one of the few bright spots...
  • China ups military spend by 12 percent. Are the gloves coming off?

    03/05/2014 3:36:37 PM PST · by SkyPilot · 13 replies
    The Christian Science Monitor ^ | 5 March 14 | Peter Ford
    China plans to spend $132 billion on its military as it asserts its maritime interests, putting it at odds with the US military preeminence in the Pacific. China made headlines today with its annual military budget, up 12.2 percent to $132 billion dollars this year. That's about one quarter of the $495 billion military budget that President Obama presented to Congress yesterday. Predictably, official commentary here stresses that China is a peace-loving nation with no aggressive intentions. But Beijing has also signaled its ambitions to be the power that holds the ring in the western Pacific, and those ambitions have...
  • Military’s top general offers grim outlook on nation’s defense

    03/05/2014 3:32:19 PM PST · by SkyPilot · 123 replies
    McClatchy DC ^ | 4 March 2014 | James Rosen
    The nation’s top military commander painted a dark picture Tuesday of future U.S. defense capabilities clouded by shrinking Pentagon budgets and adversaries’ technological advances that he said would erode American battlefield superiority. Army Gen. Martin Dempsey, chairman of the Joint Chiefs of Staff, provided his sobering views as part of the Quadrennial Defense Review, a congressionally mandated evaluation of U.S. military strength issued every four years. Dempsey predicted that it would become increasingly difficult to balance the competing demands of protecting allies abroad, securing Americans at home and deterring future wars. “The smaller and less capable military outlined in...
  • Budget Baloney

    03/05/2014 4:55:21 AM PST · by Kaslin · 4 replies
    Townhall.com ^ | March 5, 2014 | John Stossel
    This week, President Barack Obama proposed "a budget that will create new jobs in manufacturing and energy and innovation and infrastructure, and we'll pay for every dime of it by cutting unnecessary spending, closing wasteful tax loopholes!" What? I must have fallen asleep and woken up in 2008. That could not be something he'd claim after five years in office -- years after making similar claims and not delivering on them. Does he think we have no memory, or that we're just ignorant? Are these just poll-tested phrases that work because most voters are too busy to pay attention?...
  • Obama's Budget Proposal - Lower Deficit, Higher Debt, Interest Keeps Growing

    03/05/2014 3:55:58 AM PST · by LD Jackson · 8 replies
    Political Realities ^ | 03/05/14 | LD Jackson
    If the news from the past few days hasn't been enough to dampen your fire, try this on for size. Tis the season for budget proposals in Washington. President Obama is the first to reveal what he wants to spend our money on, with Paul Ryan soon to follow. I'll try to take a look at Mr. Ryan's, when he turns it loose, but for now, all we have to go on is what the President has listed as his priorities. My friends, it is not pretty. It's more of the same, really. He wants more infrastructure spending, more education...
  • Obama's Bizarro-World Budget Plan

    03/05/2014 3:01:34 AM PST · by IBD editorial writer · 9 replies
    Investor's Business Daily ^ | 03/04/2014 | IBD Staff
    Fiscal Irresponsibility: Just how out of touch is President Obama? In the midst of a faltering economy and rising global threats, he proposes a budget that would sharply cut defense spending and impose $1.8 trillion in tax hikes. Despite its relative insignificance in the grand scheme of things, the annual White House budget proposal does provide a window into the president's thinking on the size and scope of government. The fiscal 2015 budget — released a month late on Tuesday — also manages to showcase Obama's worrisome detachment from reality. The budget rests, for example, on the assumption that real...
  • Networks Tout Tax Cuts for Millions in Obama Budget, Ignore Fuzzy Math

    03/04/2014 2:18:25 PM PST · by Kaslin · 3 replies
    Newsbusters.org ^ | March 4, 2014 | Kyle Drennan
    The three network morning shows combined gave less than two minutes of air time to President Obama's proposed 2015 budget on Tuesday, though they all managed to highlight how the plan "will cut taxes for thirteen and a half million working Americans" [Listen to the audio or watch the video after the jump]. What the NBC, ABC, and CBS broadcasts all ignored was that the debt projections under the President's budget were off by $2.7 trillion compared to recent numbers released by the Congressional Budget Office. As the Washington Post pointed out on Tuesday, "[Obama's budget] forecasts a dramatic reduction...
  • Paul Ryan: 'Budget Isn’t a Serious Document; It’s a Campaign Brochure'

    03/04/2014 10:06:53 AM PST · by Sub-Driver · 17 replies
    Paul Ryan: 'Budget Isn’t a Serious Document; It’s a Campaign Brochure' 'This budget never balances—ever.' Daniel Halper March 4, 2014 11:55 AM Paul Ryan, chairman of the House Budget Committee, slams President Obama's budget in a statement released by his office. “The President’s budget is yet another disappointment—because it reinforces the status quo. It would demand that families pay more so Washington can spend more. It would hollow out our defense capabilities. And it would do nothing to preserve or strengthen our entitlements. The President has just three years left in his administration, and yet he seems determined to do...
  • Let's not get carried away with Minnesota budget surplus

    03/02/2014 5:49:13 PM PST · by TurboZamboni · 10 replies
    Pioneer Press ^ | 3-2-14 | Ed Lotterman
    Along with several other states, Minnesota has returned to a budget surplus after some sharp deficit years. Whether that is because of luck or good policy is a matter of divided opinion. But there reportedly is about $1 billion on the table. Already there are many suggestions on how to "use it" -- ranging from tax cuts to new spending. This is premature, fiscally irresponsible and dangerous to the state economy. This surplus is not a long-lasting "structural" one, and that should be taken into account. We should first build up a reserve fund for the day we go back...
  • For Ships of State, a Looming Iceberg

    03/02/2014 2:01:17 PM PST · by Kaslin · 11 replies
    Townhall.com ^ | March 2, 2014 | Steve Chapman
    If you're in the hospital with multiple fractures, a staph infection and a collapsed lung, you may not take great comfort when your doctor informs you that his last patient has it worse, being dead. Sometimes encouraging comparisons are not that encouraging. So Chicagoans didn't break out confetti upon hearing that Standard & Poor's Ratings Services regard the city's fiscal condition as less dire than Detroit's. In other news, most residents of Baghdad were not killed by suicide bombers yesterday. The S&P report is not exactly a burst of sunshine. It judges "both Detroit's and Chicago's budgetary performance to be...
  • Senate Dems Won't Produce a Budget This Year ('Do nothing' Dingy)

    02/28/2014 2:54:31 PM PST · by Libloather · 20 replies
    Weekly Standard ^ | 2/28/14 | DANIEL HALPER
    A Capitol Hill source source says that Senate Democrats will not produce a budget this year. The news is expected to come from Senator Patty Murray's office at 3 p.m. today, as part of a Friday afternoon news dump. Murray is chairman of the Senate Budget Committee. Senator Jeff Sessions from Alabama released this statement. "Senate Democrats are required by law to produce a budget," wrote Sessions. "Our nation is in enormous financial distress, and workers and families are suffering. Senate Democrats have produced only one budget in the last five years. This Senate and, more importantly, the American public,...
  • Increased domestic spending may be behind proposed military cuts, CBO report suggests

    02/26/2014 2:54:39 PM PST · by SkyPilot · 10 replies
    Fox News and Defense One ^ | 25 Feb 14 | Doug McKelway
    As the Obama administration announces proposed sweeping defense cuts, a Congressional Budget Office report documents how increases in other areas of domestic spending may be forcing the White House to reduce money for the military. The CBO report finds that mandatory spending, which includes Social Security, Medicare and Medicaid, is projected to rise $85 billion, or 4 percent, to $2.1 trillion this year. Interest on the debt is worse. It is projected to increase 14 percent per year, almost quadrupling in dollar terms between 2014 and 2024. "We are going to be spending more in interest in a couple of...
  • Amid military cuts, Obama urges $300B for roads and railways

    02/26/2014 2:46:38 PM PST · by SkyPilot · 34 replies
    Fox News and AP ^ | 26 Feb 14 | AP staff
    Just two days after the Pentagon outlined major cuts to the U.S. Army and other military programs, President Obama is calling for a whopping $300 billion commitment for America's roads, bridges and mass transit systems -- though as much as half comes from a tax plan that has bleak prospects on the Hill. The president talked about the stimulus-style plan during a stop Wednesday afternoon in St. Paul, Minn. Officials say the money, as proposed, largely would come from "pro-growth business tax reform." But aside from the challenges in pushing tax reform, Obama could have a hard time making the...
  • Col. Oliver North: 'There is no strategy' to the defense budget that reduces military to pre-WWII...

    02/25/2014 11:17:31 AM PST · by jazusamo · 62 replies
    Fox News ^ | February 24, 2014 | Van Susteren/Oliver North
    Full title: Col. Oliver North: 'There is no strategy' to the defense budget that reduces military to pre-WWII levelsVIDEO at link: Ollie North up to the 4:45 minute mark. GRETA VAN SUSTEREN, FOX NEWS HOST: Colonel Oliver North joins us. Nice to see you, Colonel. LT. COL. OLIVER NORTH, HOST, 'WAR STORIES' & FORMERLY U.S. MARINE CORPS: Good to be with you but not on a day like this. VAN SUSTEREN: All right. I was going to ask you two things. Two-part question. First, do we have to make cuts in the military? Is that smart and wise? And secondly,...