Federal Budget & Economic Forecast (p.2)

Budget Revenues 2016

Budget Revenues 2016

To give you some perspective, since 1966 the U.S. has maintained an annual deficit, where federal spending surpassed federal income, in all but 5 years (1969, 1998-2001). Over this 50-year period the U.S. deficit has averaged 2.8 percent of U.S Gross Domestic Product (GDP). According to the World Bank estimated 2014 GDP for the U.S. was $17. 4 trillion, #1 in world followed by China with a GDP of $10.4 trillion.…

Administration to Re-Direct up to $473.4 Million in Unused Earmarks

Are Your State Transportation Funds Impacted?

On August 17th, the Obama Administration announced that it would use up to $473.4 million in unused appropriation earmarks provided by previous Congresses spanning from 2003 to 2006 to pay for new transportation projects. US Transportation Secretary Ray LaHood said the Administration scoured the federal government to identify the unused funds while Congress was enduring rancorous debate on the on-again, off-again transportation re-authorization negotiations that ultimately ended up in a $105 billion, 2-year deal. The deal was reached just prior to the expiration of the ninth extension (2009) of the Safe, Accountable, Flexible, Efficient Transportation Equity Act: A Legacy for Users (SAFETEA-LU).…

Reducing Regulatory Burdens & Stimulating Jobs

Reducing Regulatory BurdenThe U.S. House continues to focus on numerous federal regulations deemed as “overburdensome” and that if ended, may stimulate the economy and create jobs. Speaker of the House John Boehner (R-OH) has sent a letter to President Obama requesting a list of all proposed regulations that are estimated to have an economic impact exceeding $1 billion.…

Obama: Revamping the Farm Subsidy System

In a CBS town hall meeting on May 12th, President Obama discusses how difficult it is for congressional leaders from rural districts that have historically benefited from existing farm subsidies to change policies to address 21st Century challenges in agriculture. More than ever, if your organization needs its voice heard in Washington and assistance in protecting…

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