Concerns are rising in Washington regarding the status of an agreement between House Speaker Nancy Pelosi (D-Ca.) and the White House to raise the discretionary spending caps imposed by the Budget Control Act of 2011. If nothing is done, the government will run out of funding and have to shut down on October 1, 2019. […]
The decision announced today in favor of the Department of Defense (DOD) in the U.S. Court of Federal Claims case challenging the $10 billion Joint Enterprise Defense Infrastructure contract likely means that it will be awarded shortly to a single vendor. As Citizens Against Government Waste (CAGW) and other taxpayer groups have argued in a […]
With looming trillion-dollar deficits, it’s time for the federal government to learn a thing or two about budget process reform and other cost-savings measures from state governments. Fundamentally, the federal budget process is similar to state budgets in that they acquire revenue, mostly through taxes, and spend it in ways that legislators see fit. A […]
This week, the Congressional Budget Office (CBO) released its 2019 Long-Term Outlook which corroborated that the United States current rate of spending is unsustainable. CBO warns the nation’s mounting debt heightens the risk of a fiscal crisis and will slow income growth, place upward pressure on interest rates, and weaken the ability to respond to […]
Even with the national debt at more than $22 trillion and trillion-dollar annual deficits beginning in fiscal year (FY) 2022, Congress continues full-speed ahead towards another fiscal disaster. This week’s poor spending decision comes from H.R. 2740, an appropriations “megabus.” According to the Congressional Budget Office (CBO), H.R. 2740 would appropriate $982.8 billion. That’s $61.5 […]
After 32 consecutive victories on the TV game show “Jeopardy,” James Holzhauer, a professional sports gambler from Las Vegas, Nevada, saw his incredible winning streak come to an end. Finishing with $2,462,216 in total prize money, James fell just $58,484 short of the all-time record set by Ken Jennings in 2004 (it took Jennings 74 […]
On the one-year anniversary of the Supreme Court decision to legalize sports betting, the Hawkeye State has delivered another exciting reason to celebrate. Yesterday, Gov. Kim Reynolds (R-Iowa) signed SF 617 into law, making Iowa the ninth state to fully legalize sports gambling. In comparison to other proposals weighed by the legislature, this law provides […]
For the first time since 2015, the U.S. Export-Import Bank can approve deals of more than $10 million, because the Senate confirmed three new members of its board of directors, giving the bank a required quorum needed to approve larger deals. Senators confirmed Kimberly Reed as bank president along with Judith DelZoppo Pryor and former Rep. Spencer […]
Healthcare, Budget, Postal Service
The national debt stands at more than $22 trillion, with trillion-dollar deficits right around the corner. Entitlement spending continues to rise and is projected to make up 60 percent of spending for Fiscal Year (FY) 2020. Social Security will exceed its income in 2020 for the first time since 1982 and Medicare is set to […]
