Federal Budget

[Boydstun]

Appropriations - FY 2022

FY = Oct. 1 through Sept. 30

Budgets and Projections

Thanks to Merlin Jetton for recent remarks and for notice of the site COMMITTEE FOR A RESPONSIBLE FEDERAL BUDGET.

[dream_weaver]

He had been providing links to updates to his blog here. Also on that link, a reference to the microchip and another relevance to the automotive supply chain, as being several months in advance of getting to the assembly lines. I don't think the automotive industry is as large a percentage to the federal budget as it once was.

[Boydstun]

Here is the US House of Representatives doing as usual: NOT "I'll cut these expenditures, if you'll cut those." As usual, the opposite: "Let's keep buying votes from our different constituencies with taxpayer dollars, the fiscal responsibility be damned!" 

Quote

It would also accelerate the deadline for filing backdated claims for the Employee Retention Tax Credit, a Covid 19-era program that has been subject to widespread fraud, to January 31, 2024, instead of April 15, 2025. That provision is estimated to save taxpayers more than $78 billion – offsetting most of the cost of the package, according to the Joint Committee on Taxation. ——(CNN Report of Bill passed today)

Baloney! Free lunches of baloney all around!

Federal FY 2023 ended with a budget deficit of 1.7 trillion dollars. The federal government has spent $510 billion more than it has collected in fiscal year 2024. What is the House doing to attain a balanced budget in FY 2024? Nothing that I've heard of. 

Edited February 1, 2024 by Boydstun