WHIO Radio: The Federal Budget
By Jamie Dupree
Under the radar when compared to the back and forth of the race for President, the budget for Fiscal Year 2013 is quietly starting to take shape on Capitol Hill, as key committees in the House and Senate are actively drafting a series of spending bills.
As of now, the Senate is aiming to spend $1.047 trillion in the next fiscal year, up $4 billion from the $1.043 trillion level of the current budget year.
Meanwhile the House is aiming at an overall spending level of $1.028 trillion, which is $15 billion below this year's budget totals - $19 billion below what Senate appropriators have signaled they want to spend.
How does that compare to recent years?
- • Fiscal Year 2010 - $1.089.7 trillion
- • Fiscal Year 2011 - $1.049.8 trillion
- • Fiscal Year 2012 - $1.043.0 trillion
The $1.047 trillion in the Senate's evolving budget plan was set in last year's budget deal that averted a debt limit default - Republicans regard that number as a "ceiling" for spending - while Democrats argue that's what Congress should spend next year.
Regardless of that dispute, it may be hard for some people to believe that the Congress has actually stunted the growth of what we call the 'domestic discretionary' budget, which covers all federal spending outside of Medicare and Social Security.
The Senate Appropriations Committee set out the basic numbers for its twelve different spending bills on Thursday - what are known as the "302(b) allocations" on Capitol Hill.
What was interesting about that vote? Well, all but two Republicans joined with Democrats on the Appropriations panel to approve the spending level of $1.047 trillion - including Senate GOP Leader Mitch McConnell.
The only 'No' votes were from Sen. Ron Johnson (R-WI) and Sen. Jerry Moran (R-KS), as the final tally was 27-2.
The House Appropriations Committee will vote next week on its own 302(b) plan, as Republicans argue deeper cuts are needed.
The twelve spending bills must be finished by the first of October, when the new fiscal year begins.
The last time Congress did that work on time was 1994, one of only three times since the early 1970's.
Oh, and by the way - neither the House nor the Senate plan will come anywhere close to balancing the budget.
