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Two different ways of getting funds to agencies are 1) to pass a short-term funding bill that will extend the debt limit for a few more months, and 2) to tie in Hurricane-relief aid with the budget bill so that there is more incentive for a bipartisan resolution. The course of events could go in any one direction, but the likelihood of a government shutdown and/or default is very low: a shutdown or default would benefit no one, there would be a great deal of finger pointing, and the Trump Administration would suffer another defeat that would signal ineptitude of the highest order.
A short-term funding bill to extend the debt limit would be advantageous for a number of reasons: first, it would allow the federal government to continue operating without fear or pressure of having to produce a budget by a fast-approaching deadline; second, it would signal that sides are willing to give things more time to play out while agencies are allowed to continue to work. A continuing resolution would essentially be an exercise in kicking the can down the road, which might not be entirely palatable to all—but the reality of the situation is that can-kicking has been a Congressional hallmark for many years and practically resembles a professional sport at this point. Should the president agree to sign off on more can-kicking (though he derided as much just four years earlier in a Tweet that he made about this very same subject), the...
This cyclical activity of rotating one pot of concerns for another, while pushing matters ahead with extensions and CR’s has become a staple in financing (even the central banks seem to love the idea of distorting reality by pumping markets full of fiat). Plans and budgets are about as necessary in the current bureaucracy as water is to fire. Few politicians want the responsibility of hindering present agendas, but present financial burdens are equally pressing.
The alternative is to tie-in some sort of disaster relief (Irma is fast approaching Florida and could be even more devastating than Harvey was to Houston). By tying in aid to these states, politicians can save face without actually confronting the irresponsibility of putting forward a budget that adds more debt to the nation and further mires the coming generations with interest payments that will suck up the bulk of taxes. In the long run it means that taxes will likely rise as servicing the national debt will become so pressing that there will be no alternative. Yet by tying in relief, politicians get to look like they are doing a great service to the nation even as they are actually burdening it. It is a sleight of hand practice that gets the public to look over here at what the right hand is doing—ensuring that there are…
Federal Budget Process Every year the federal administration is involved with a total revenue and expenditure of about 1.5 trillion USD as a matter of fiscal practice. (Keith, 1996) The budgetary strategy of the federal administration is an integration of the guidelines that the policy makers, legislator, bureaucrats apply for designing, continuing, regulating and accounting fro the expenditure and revenue strategy. Normally the budgetary strategy involves formulation of the budget of
This means that Congressional officials and the White House are reluctant to make the necessary adjustments (in order to address these issues). Instead, they have been utilizing various gimmicks to demonstrate how they are dealing with the problem. During the course of their reelection campaign, they can show how they helped to tackle the federal government's fiscal challenges and increased the number of projects / funding for various programs.
Rather than propping up "bad blood" and allowing the "illusion" of wealth to continue to be fostered, the Federal Reserve should allow the market to flush out the "bad blood" and operate the way it is intended. Conclusion In conclusion, the good that the Federal Reserve does is to monitor economic policy, encourage maximum employment and long-term stability. The way it does so, however, especially in times of crisis such as
We do not anticipate success is securing a non-voted debt issue. Given the time frame for the completion of the Commons project, the city will weigh our request vs. The upcoming needs for school repairs and roadwork. Education is a touchstone issue for voters, and roadwork affects all voters in the city. Should council decide to issue any of their remaining non-voted debt capacity, it is unlikely they would choose
Budget Cuts to the Correctional System The country is still in the grips of a massive financial crisis. As companies and government organizations continue to feel the impact of the recent financial crisis, budgets are being slashed across the board. Unfortunately, that means that funding formerly allocated for public goods and programs is being cut as well. One of the largest budget cuts seen in a number of states across the
Revenues for the Miami Dade Police Department 2011 to 2012 Revenue Source Amount (in thousands of dollars) General Funds $488,535 911 Fees $13,249 Parking / Traffic Surcharges $4,190 Federal Grants $9,204 Carryover $15,738 Contract Services $63,262 Miscellaneous $4,172 ("FY 2011-2012 Budget," 2011) These numbers are showing how the Miami Dade Police Department receives additional forms of income from various fees, contract services, grants and other programs. The combination of these elements is used to provide the community with protective services. How are the revenue amounts expected to change in