Tag: Federal budget
Did Democratic leaders try to buy a House seat with a $25 billion nuclear bailout?
Today, the House Energy and Water Appropriations Subcommittee included a $25 billion preemptive bailout of the nuclear industry, in the form of loan guarantees for new reactors, in the Energy and Water Appropriations bill.
The case against Obama's war supplemental gets stronger
Members of Congress with any inclination to balk at President Obama's massive emergency war-funding request have found their case strengthened by two recent reports that question many of the administration's key premises and assumptions.
Obama's nuclear subsidies put taxpayers at risk
President Obama’s plan to kick-start the construction of nuclear power plants in the United States comes with a big catch: Because private banks won’t lend to an industry viewed as financially risky, taxpayers would be accountable for billions in government-guaranteed loans if plant developers default.
Stop the Nuclear Weapons Spending Hike
President Obama wants to dramatically increase spending on nuclear weapons. Tell the president to cut - not increase - the nuclear weapons budget.
Obama proposes record $1.6 trillion budget deficit for fiscal 2011
President Barack Obama will propose on Monday a $3.8 trillion budget for fiscal 2011 that projects the deficit will shoot up to a record $1.6 trillion this year, but would push the red ink down to about $700 billion, or 4% of the gross domestic product, by 2013, according to congressional aides.
Obama wants record $708B for military next year
President Barack Obama will ask Congress for an additional $33 billion to fight unpopular wars in Afghanistan and Iraq on top of a record $708 billion for the Defense Department next year, The Associated Press has learned - a request that could be an especially hard sell to some of the administration's Democratic allies.
Jobs from Obama's stimulus cost taxpayers $230k each
Jobs are being created, or at least saved, thanks to President Obama's stimulus spending, and the administration seems pleased to take credit for 650,000 state and local positions after burning through $150 billion.
That's it? That's the best we can get for $150 billion?
Bailout fuels new Wall Street bonanza
Many of the steps that policy makers took last year to stabilize the financial system — reducing interest rates to near zero, bolstering big banks with taxpayer money, guaranteeing billions of dollars of financial institutions’ debts — helped set the stage for this new era of Wall Street wealth.
Stop Funding War
Out of control militarism is bankrupting America, morally and financially. Tell Congress to invest in human needs, not endless wars.
Defense bill, lauded by White House, contains billions in earmarks, pork
But the White House instead sent a generally supportive message to the Senate about the pending defense bill on Friday, virtually ensuring that the earmarks will win final congressional approval.
Budget experts predict whopping $1.6 trillion deficit
This year's federal budget deficit will be bigger than any previous deficit, but it won't be as big as once expected.
Where did that bailout money go?
Although hundreds of well-trained eyes are watching over the $700 billion that Congress last year decided to spend bailing out the nation's financial sector, it's still difficult to answer some of the most basic questions about where the money went.
House Democrats pack pork into defense appropriations bill
The Democratic-controlled House is poised to give the Pentagon dozens of new ships, planes, helicopters and armored vehicles that Defense Secretary Robert M. Gates says the military does not need to fund next year, acting in many cases in response to defense industry pressures and campaign contributions under an approach he has decried as "business as usual" and vowed to help end.
Defense appropriations bill stuffed with earmarks
A House panel approved a big Pentagon spending bill this week that included nearly 150 items tucked in by lawmakers on behalf of companies and other entities whose employees donated to their campaigns.
Climate bill was larded with corporate welfare, pork
The bill was freighted with hundreds of pages of special-interest favors, even as environmentalists lamented that its greenhouse-gas reduction targets had been whittled down.
Obama's auto task force outsources jobs with taxpayer money
As rescue attempts go, the Obama administration and its Auto Task Force are pursuing a peculiar course: They seem intent on keeping General Motors and Chrysler afloat as corporate entities by tossing more U.S. workers overboard.
Pelosi lobbies Democrats to support war spending bill
House Speaker Nancy Pelosi is fiercely lobbying fellow anti-war Democrats, crossing off the names of converts from a whip list as she seeks to build support for a troubled supplemental war-spending bill.
Waxman offers polluters billions in corporate welfare
U.S. Representative Henry Waxman, sponsor of a plan to cut greenhouse-gas emissions, is offering power producers and companies such as steelmakers free pollution permits, said people familiar with the negotiations.
The Murtha airport boondoggle
At the behest of Rep. John P. Murtha (D), chairman of the House defense appropriations subcommittee, the Pentagon has spent about $30 million equipping the little-used airport named for him so it can handle behemoth military aircraft and store combat equipment for rapid deployment to foreign battlefields.
The John Murtha airport and its earmarks
The John Murtha airport sits on a windy mountain two hours east of Pittsburgh, a 650-acre expanse of smooth tarmac, spacious buildings, a helicopter hangar and a National Guard training center.
Obama breaks promise on earmarks, pork
Despite campaign promises to take a machete to lawmakers' pet projects, President Barack Obama is quietly caving to funding nearly 8,000 of them this year...
Taxpayers enrich contractors' with hidden bonuses
Federal departments, including Treasury itself, routinely squander tens of billions of dollars a year in taxpayer money as they farm out public business to private corporations.
Lobbyists evade earmarks ban
President Barack Obama's ban on earmarks in the $825 billion economic stimulus bill doesn't mean interest groups, lobbyists and lawmakers won't be able to funnel money to pet projects.
Is this sustainable? US debt may soar $2 trillion this year
With President-elect Barack Obama and congressional Democrats considering a massive spending package aimed at pulling the nation out of recession, the national debt is projected to jump by as much as $2 trillion this year, an unprecedented increase that could test the world's appetite for financing U.S. government spending.
Spending surge pushing deficit toward $1 trillion
Congressional leaders and both presidential candidates are proposing billions of dollars in tax breaks and other measures to stoke economic growth, a surge in spending that could send the federal deficit soaring toward $1 trillion this year, creating the deepest well of red ink since the end of World War II.
Stop bailing out the arms industry
So, one might ask, where is there room to cut spending? The Pentagon budget, for starters. With total expenditures at over $700 billion and counting — including the costs of the wars in Iraq and Afghanistan — the United States is spending more for military purposes than at any time since World War II.
Federal deficit soars to nearly $455 billion
The federal government ran a deficit of almost $455 billion in fiscal 2008, the White House reported, a record that will likely be far exceeded by the red ink in the current fiscal year.
Pentagon wants $450 billion increase over next five years
Pentagon officials have prepared a new estimate for defense spending that is $450 billion more over the next five years than previously announced figures.
US debt too big for National Debt Clock
In a sign of the times, the National Debt Clock in New York City has run out of digits to record the growing figure.
Bring back New Deal economics and revive the American dream
The current financial crisis presents an opportunity to scrap the failed policies of neoliberal economics and make America's economic policy both stronger and fairer. By rejecting band-aid solutions, taking decisive action to stop the bleeding, holding the culprits accountable, and reforming our financial system to address the root causes of the crisis, we would do future generations a great service.
Federal budget deficit hits record $438 billion
The federal budget deficit hit a new record in the just-completed 2008 budget year under the latest estimates from the Congressional Budget Office.
The military-industrial complex: Eisenhower's warning
"In our councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex..."
Democrats lard bills with billions in earmarks
With the focus on the $700 billion Wall Street bailout, appropriators quietly executed an end run around challenges to the thousands of earmarks slipped in the must-pass, year-end spending bill.
A Better Bailout
Proposals from Washington to fix the financial crisis fall far short of addressing the fundamental problems that led to the crisis. Nobel Prize-winning economist and author of "Globalization and Its Discontents" Joseph Stiglitz outlines an alternative bailout that would benefit the American people instead of the big corporations that made this mess.
Greenspan says McCain tax cut plan need budget cuts too
Former Federal Reserve Chairman Alan Greenspan said the country can't afford $3.3 trillion of tax cuts proposed by Republican presidential nominee John McCain without corresponding spending reductions.
White House cooks books on Fannie, Freddie
The White House won't incorporate the business operations or assets and liabilities of Fannie Mae and Freddie Mac onto federal books for now, despite the government's seizure of the firms a week ago.
Defense budget will stay large under Obama
As president, Barack Obama will keep a large military budget and will involve the defense industry much more than it has been in the past, according to one of the candidate’s senior national security advisers.
World peace or world police?
After the fall of the Soviet Union, the United States continued spending more on the military than the rest of the world combined. Andrew Bacevich, author of "The Limits of Power: The End of American Exceptionalism", questions whether the runaway spending actually makes America safer, and why candidates from both the Democratic and Republican parties are swearing allegiance to the global "war on terror".
Obama cooks the books to hide budget deficit
The Democratic presidential candidate has adopted a key component of Bush's fiscal policy: A novel bookkeeping method that guarantees that the $9.5 trillion national debt will get much bigger.
Major new weapons programs will cost $1.6 trillion
The major weapons systems being developed and produced by the Defense Department will require $1.6 trillion to complete and $335 billion over the next five years -- money that may not be available because of the continuing cost of military operations in Iraq and Afghanistan, according to a new report by the Government Accountability Office.
Despite promises, earmarks persist in spending bills for 2009
Despite a pledge by Congressional leaders to reduce pork-barrel projects, new information shows that both the number and amount of earmarks have increased in several spending bills now making their way through Congress.
Fairest war tax is 146 years old July 1
The surest way to jar us into realizing the unconscionable cost of the Iraq debacle is to impose a stiff income tax surcharge to pay for it. If we did that, most hawks would become doves overnight.
Audit questions oversight of aid to Pakistan
The U.S. has given Pakistan nearly $6 billion to pursue terrorists since the Sept. 11 attacks, but with little to no proof that the money has been used for that purpose, an independent audit has found.
Democrats, Republicans break promise to curb earmarks
More than a year after Congress pledged to curb pork barrel funding known as earmarks, lawmakers are gearing up for another spending binge, directing billions toward organizations and companies in their home districts.
Senator warns of a ‘crisis’ in Pentagon cost overruns
The chairman of the Senate Armed Services Committee on Tuesday declared that cost overruns for Defense Department weapons had “reached crisis proportions,” after government auditors reported that the projected final cost of the Pentagon’s major programs had ballooned $295 billion over initial budget estimates.
Why won't Democrats or Republicans cut our massive military budget?
The U.S. has been on a madcap spending spree on wars and weapons having little, if anything, to do with combating terrorism, nothing to do with the imaginary threat from China and everything to do with sustaining an enormously bloated defense industry.
U.S. deficit at record high and rising
Deficit? What deficit? Three big intersecting events – war in Iraq, the economic downturn, and the presidential race – this year have combined to knock fiscal discipline far down the list of Washington's policy priorities.
US deficit at record high and rising
Deficit? What deficit? Three big intersecting events – war in Iraq, the economic downturn, and the presidential race – this year have combined to knock fiscal discipline far down the list of Washington's policy priorities.
Big tax breaks for businesses in housing bill
The tax provisions of the Foreclosure Prevention Act, which consumer groups and labor leaders say amount to government handouts to big business, show how the credit crisis, while rattling the housing and financial markets, has created beneficiaries in the power corridors of Washington.
Private debt collectors cost IRS more than they raise
The Internal Revenue Service expects to lose more than $37 million by using private debt collectors to pursue tax scofflaws through a program that has outraged consumers...
Defense firm forged close ties to Congress to get no-bid contracts
At a private breakfast in December, executives from an Alabama defense contractor, Digital Fusion Inc., met with the House intelligence committee chairman, Silvestre Reyes. They handed over checks totaling $24,000 for his re-election campaign.
Pork barrel remains hidden in US budget
Sometimes on Capitol Hill, lawmakers find that it pays to ask nicely instead of just ordering the bureaucrats around.
Taxpayer advocate says outsourcing at IRS is inept
The use of private debt collectors by the Internal Revenue Service is ineffective, the national taxpayer advocate told Congress yesterday, and the program should be canceled.
The Iraq war will cost us $3 trillion, and much more
The Iraq adventure has seriously weakened the U.S. economy, whose woes now go far beyond loose mortgage lending. You can't spend $3 trillion -- yes, $3 trillion -- on a failed war abroad and not feel the pain at home.
Cost is the real drug threat
Many Americans, including numerous seniors and people with chronic conditions, obtain prescription drugs from international sources not because they're scratching some itch for faraway places. The shameful reality is that they're looking abroad simply because they can't afford U.S. drug prices.
As drug ads surge, more get Rx's filled
Prescription-drug ads prompt nearly one-third of Americans to ask their doctors about an advertised medicine, and 82% of those who ask say their physicians recommended a prescription.
Governors of both parties oppose stingy Medicare rules
Governors of both parties strongly objected on Saturday to a half-dozen new federal Medicaid regulations that they said would shift billions of dollars in costs to the states, forcing them to consider cutbacks in services.
Study: savings on vehicles cost Marines lives
Hundreds of US Marines have been killed or injured by roadside bombs in Iraq because Marine Corps bureaucrats refused an urgent request in 2005 from battlefield commanders for blast-resistant vehicles, an internal military study concludes.
As nuclear waste languishes, expense to US rises
Forgotten but not gone, the waste from more than 100 nuclear reactors that the federal government was supposed to start accepting for burial 10 years ago is still at the reactor sites, at least 20 years behind schedule. But it is making itself felt in the federal budget.
From Bush, foe of earmarks, similar items
President Bush often denounces the propensity of Congress to earmark money for pet projects. But in his new budget, Mr. Bush has requested money for thousands of similar projects.
Bush's budget digs a deeper hole
The $3.1-trillion fiscal 2009 budget proposal represents Bush's last chance to establish his legacy. Unfortunately, it will be one of massive deficit spending that will be paid for by generations to come.
Clinton and Obama will continue Bush's high-priced militarism
Both Hillary Clinton and Barack Obama have treated the military budget as sacrosanct with their Senate votes and their campaign rhetoric. Clinton is particularly clear on the record as favoring spending more, not less, on the military.
Budget mess
Mr. Bush inherited a potential windfall -- and squandered it. The next president will inherit his mess.
Bush budget estimates called unrealistic
Experts think that the administration is lowballing the deficits, and they put little stock in Bush’s vow to balance the budget by 2012.
Proposed military spending is highest since WWII
If it is approved in full, annual military spending, when adjusted for inflation, will have reached its highest level since World War II.
Pentagon won't detail war spending plan
When the Pentagon unveils its budget request Monday for the next fiscal year, it will back away from a commitment it made to Congress just a year ago -- to estimate how much the wars in Iraq and Afghanistan are likely to cost.
House Republicans urge earmark moratorium
House Republicans called on Friday for “an immediate moratorium” on earmarking money for pet projects. They urged Democrats to join them in establishing a bipartisan panel to set strict new standards for such spending.
Democrats caved on stimulus
And the worst of it is that the Democrats, who should have been in a strong position -- does this administration have any credibility left on economic policy? -- appear to have caved in almost completely.
US cannot manage contractors in wars, officials testify
With even more U.S. contractors now in Iraq and Afghanistan than U.S. military personnel, government officials told Congress yesterday that the Bush administration is not prepared to manage the contractors' critical involvement in the American war effort.
The pork-as-usual GOP
When House Republicans convene behind closed doors today at the Greenbrier resort in White Sulphur Springs, W.Va., they have a chance to make two bold moves to restore their reputation for fiscal responsibility.
Earmarks seen likely to continue
President Bush is unlikely to defy Congress on spending billions of dollars earmarked for pet projects, but he will probably insist that lawmakers provide more justification for such earmarks in the future, administration officials said Monday.
The pork king keeps his crown
The new earmark disclosure rules put into effect by Congress confirm the pre-eminence of Representative John Murtha at procuring eye-popping chunks of pork for contractors he helped put in business in Johnstown, Pa.
Top dem Jack Murtha pours millions down a rathole
The National Defense Center for Environmental Excellence opened its doors in 1991 with a $5 million earmark from a powerful lawmaker.
Democrats cave in on federal budget
Eager to go home, Democrats unveiled a year-end spending bill that is a pale imitation of Congress's springtime budget but still puts their imprint on government priorities ranging from climate change to homeland security and education.
Senate keeps govt. payments to rich corporate farms
The Senate rejected two attempts to limit annual payments to farmers Thursday, frustrating lawmakers who had hoped that this year's multibillion-dollar farm bill would scale back the government's massive subsidy programs.
Intraparty feuds dog Democrats, stall Congress
Democrats took control of Congress last January promising a "new direction." A year later, the image that haunts them most is one symbolizing no direction at all: gridlock.
Hoyer lards his district with pork
Even as House Majority Leader Steny H. Hoyer has joined in steps to clean up pork-barrel spending, the Maryland congressman has tucked $96 million worth of pet projects into next year's federal budget, including $450,000 for a campaign donor's foundation.
Wildlife refuges are a great investment
National wildlife refuges more than make up for their cost to taxpayers by returning about $4 in economic activity for every $1 the government spends...
Bush, Congress threaten to take food away from poor women, children
Half a million people could be cut from a nutrition program for low-income young children, pregnant women and recent mothers.
Democrats Pack Pork into Military Spending Bill
Even though members of Congress cut back their pork barrel spending this year, House lawmakers still tacked on to the military appropriations bill $1.8 billion to pay 580 private companies for projects the Pentagon did not request.
The New Politics of Food and the Farm Bill
Americans have begun to ask why the farm bill is subsidizing high-fructose corn syrup and hydrogenated oils at a time when rates of diabetes and obesity among children are soaring, or why the farm bill is underwriting factory farming (with subsidized grain) when feedlot wastes are polluting the countryside and, all too often, the meat supply.
Israel Cost Each American $5,700 Since 1973
Since 1973, Israel has cost the United States about $1.6 trillion. If divided by today's population, that is more than $5,700 per person.
Top General Says Army Too Weak to Meet New Threats
The Army's top officer, General George Casey, told Congress yesterday that his branch of the military has been stretched so thin by the war in Iraq that it can not adequately respond to another conflict - one of the strongest warnings yet from a military leader that repeated deployments to war zones in the Middle East have hamstrung the military's ability to deter future aggression.
Anti-Evolution Pork?
Sen. David Vitter, R-La., earmarked $100,000 in a spending bill for a Louisiana Christian group that has challenged the teaching of Darwinian evolution in the public school system and to which he has political ties.
Why Don't Democrats Ask Tough Questions About Pentagon Spending?
The Senate is debating the defense bill now, and the central fact about the proceedings is that nobody's talking about money.






