190 likes | 311 Views
Generational Outlook: The Federal Budget Now and in the Future. The Concord Coalition www.concordcoalition.org. 2010-2011. Policy Making Process. 1. Agenda Setting President Clinton and Obama – Health Care; Bush – Tax cuts Congress 1994 Republicans “ Contract with America ”
E N D
Generational Outlook: The Federal Budget Now and in the Future The Concord Coalitionwww.concordcoalition.org 2010-2011
Policy Making Process • 1. Agenda Setting • President • Clinton and Obama – Health Care; Bush – Tax cuts • Congress • 1994 Republicans “Contract with America” • 2006 Democrats “100 hour agenda” • Courts • Abortion; Desegregation of Schools; Judicial Activism • Media • Watergate • Special Interests • Americans with Disabilities Act • Veteran groups • United Cerebral Palsy • Citizens • http://www.nytimes.com/2010/04/13/us/13tank.html
2. Policy Formation • President • Hilary Clinton: Health Care • G.W. Bush: Iraq War, Tax Cuts • Congress • 2010 Health Care Bill • Bureaucracy • Medicare and Medicaid
3. Implementation • Use of the Bureaucracy • Rules and Regulations • Mandates • Grants • Discretionary Authority
Newsbound – Budget Breakdown • http://www.youtube.com/watch?v=fWu8o-ZzUNs
Types of Spending • Mandatory Spending: • Spending Required due to previously passed legislation • Medicare, Medicaid, Social Security • Discretionary Spending: • Optimal Spending set by annual Appropriations • Foreign Aid, Education, Defense, Transportation
OMB/Obama Proposed Budget FY2011 Budget Request 2011 http://www.youtube.com/watch?v=DH9U42vptzw Source: http://www.whitehouse.gov/omb/budget/Overview/
Taken from: http://www.nytimes.com/interactive/2011/07/28/us/charting-the-american-debt-crisis.html?hp#panel/how-the-debt-accumulated
The U.S. debt is divided into two categories: • IntragovernmentalHoldings - Just under one-third of the Federal debt is owed to about 230 other Federal agencies. How does this happen? Some agencies, like the Social Security Trust Fund, take in more revenue from taxes than they need right now. Rather than stick this cash under a giant mattress, these agencies buy U.S. Treasuries with it. • Social Security - $2.72 trillion • Office of Personnel Management (Federal Employees Retirement, Life Insurance, Hospital Insurance Trust Funds, including Postal Service Fund) - $1.12 trillion • Dept. of Health and Human Services - $69 billion • Federal Deposit Insurance Corporation - $35 billion • Department of Transportation (Airport and Highway Trust Fund) - $20 billion • Department of the Treasury (Exchange Stabilization Fund) - $23 billion • Department of Labor (Unemployment Trust Fund) - $21 billion • Debt Held by the Public - Foreign governments and investors hold 48% of the nation's public debt. The next largest part (21%) is held by other governmental entities, like the Federal Reserve and state and local governments. • Foreign - $5.311 trillion • Federal Reserve - $1.66 trillion • State and Local Government, including their pension funds - $709.1 billion • Mutual Funds - $864.9 billion • Private Pension Funds - $605.2 billion • Banks - $305.2 billion • Insurance Companies - $259.1 billion • U.S. Savings Bonds - $184.7 billion
Outlays of Select Mandatory Spending Programs(FY 2007 Projected) Source: Congressional Budget Office, January 2007
Defense Discretionary Spending as a Percentage of GDP As a Percentage of GDP Source: Congressional Budget Office, August 2007