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Tag Archives: spending

Four Senators Approach 13 Agencies to Address Year-End Binge Spending

Four senators have asked the chief financial officers of 13 agencies to address their “use it or lose it” spending at the end of the fiscal year. The U.S. Senate Committee on Homeland Security and Governmental Affairs said Wednesday Sen. Ron Johnson, Claire McCaskill, Rand Paul and Gary Peters expressed concerns that agencies may possibly spend more money at the end of fiscal year 2018 compared to previous years.

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President Trump Vows Missile Defense Spending Increase

President Donald Trump has said he plans to increase spending on the country’s missile defense efforts in response to North Korea’s increasing nuclear threats, Washington Examiner reported Friday. “We’re going to be increasing the anti-missile by a substantial number of billions,” Trump told reporters Thursday. The White House’s fiscal 2018 …

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Tony Scott: Gov’t Spends $3B on Maintenance Contracts for End-of-Life IT Products

Federal Chief Information Officer Tony Scott has said government agencies spend more than $3 billion on maintenance contracts for information technology products that are nearing retirement and no longer have available spare parts, service or patches, Federal News Radio reported Wednesday. Scott told Jason Miller in an interview at the ACT-IAC Management of Change …

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CBO: US Deficit Hits $457B in First Half of Fiscal Year 2016

A Congressional Budget Office report says the U.S. budget deficit for the first half of the government’s 2016 fiscal year is about $18 billion more than the $439 billion shortfall the agency recorded in the first half of FY 2015. CBO said Thursday the amount of revenues the government has earned from individual and corporate …

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CBO: Federal Deficit Down $34B Over 5-Month Period

The federal government’s budget deficit for the first five months of fiscal 2016 was $352 billion, down $34 billion from the shortfall recorded for the same period in fiscal 2015, the Congressional Budget Office reports. CBO said Monday the decline is partly attributed to a shift in the timing of some …

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GAO: Coordination Key to Identify DoD’s Professional Services Acquisition Needs

A Government Accountability Office report says the Defense Department should establish a coordinated approach for military organizations to forecast and manage funding requirements for professional services contracts. GAO said Thursday it found that DoD obligated about $85 billion for the acquisition of research and development, facility management and knowledge-based services during fiscal 2014, …

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CBO: Federal Deficit Down $44B in Fiscal 2015

The Congressional Budget Office reported the U.S. budget deficit in fiscal year 2015 ended Sept. 30 was approximately $439 billion, below the $483 billion shortfall recorded at the end of fiscal 2014. The FY 2015 shortfall measured as a percentage of gross domestic product has declined for the sixth consecutive year, reaching 2.5 percent of …

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CBO Sees $61B Decline in Federal Deficit Over 11 Months

A report by the Congressional Budget Office estimates that the U.S. budget deficit totaled $528 billion in the first 11 months of fiscal 2015, down $61 billion compared with the prior-year period’s shortfall. CBO said Tuesday it found tax receipts grew by 8 percent to $2.9 trillion since October 2014, primarily …

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