Tag Archives: budget control act

Report: Bipartisan Congressional Budget Panel Starts Talks

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Congress’ bicameral budget committee could seek to reform entitlement programs as part of efforts to replace the fiscal year 2014 sequestration cuts before they take effect, NBC News reported Wednesday. Tom Curry writes the conference committee held its first public meeting at the Capitol Wednesday and has until Dec. 13 to …

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Todd Harrison: Defense Procurements Could Fall to $62B Per Year

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A Center for Strategic and Budgetary Assessments analyst predicts that defense budget may drop as much as $415 billion if sequestration remains in place over the next decade, Aviation Week reported Friday. Michael Bruno writes CSBA defense analyst Todd Harrison said Thursday that the military’s authorized procurement would fall to …

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CSBA: Pentagon Readiness Cuts Free Up Weapons Development Funds

Short-term reductions in defense readiness funds would allow the Defense Department to allocate more resources toward development of future weapons and equipment, according to a study from a Washington think tank. Reuters reports the Center for Strategic and Budgetary Assessments brought in defense budget experts over the summer to examine …

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CBO Outlines Projected FY 2012 Deficit, Future Impacts

The Congressional Budget Office said Wednesday that fiscal year 2012 will end with a federal budget deficit of about $1.1 trillion, or 7.3 percent of the gross domestic product. CBO added it believes unemployment will stay at more than 8 percent for the rest of the fiscal year, with the …

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House Panel To Markup $554B Defense Budget Bill

The House Armed Services Committee is set to begin marking up the 2013 defense authorization bill Wednesday, Federal News Radio reports. That bill includes provisions to promote the rotation of national security positions between agencies. A new board, led by the Office of Management and Budget and aided by the …

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CRS Says Sequestration Cuts FY 2013 Discretionary Spending 12%

Sequestration will start next January and reduce discretionary spending by 12.1 percent in fiscal year 2013 if Congress does not reverse the Budget Control Act, FierceGovernment IT reports. Across-the-board cuts will affect mandatory programs such as Medicare but discretionary spending will see the largest year-over-year percentage drop, according to a …

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