White House, Congress reach tentative budget deal

Reuters.com By David Lawder and Susan Cornwell 10/27/15 A U.S. budget and debt ceiling deal headed toward quick action in Congress on Tuesday as lawmakers rushed to avert yet another fiscal standoff, which threatened to push the federal government into an unprecedented default early next month. House Speaker John Boehner told fellow Republicans he was clearing the way for a vote on Wednesday on the double-barreled measure, which would bust strict spending caps by $80 billion over the next two years in order to pump up defense and domestic programs. … Continue reading

Obama uses veto for only fifth time, rejecting defense authorization bill

(Presidential candidate Lincoln Chafee ended his bid for the Democratic nomination yesterday as noted here. – Admin.) The Washington Post By Steven Mufson 10/22/15 President Obama exercised his veto power Thursday for just the fifth time in his presidency, rejecting a defense authorization bill because of the way it would sidestep budget limitations for the military and because it would restrict the transfer of detainees being held at Guantanamo Bay. The White House said that the National Defense Authorization Act (NDAA) would tap an overseas contingency operations account designed for emergencies … Continue reading

President’s Proposed Fiscal Year 2016 Budget: Taking a look

A family budget is one thing. Understanding our federal budget is something else. The President’s Proposed Fiscal Year 2016 Budget was released February 2, 2015.

However, with commitment and perseverance as well as internet resources one can gain in their understanding. Several resources are offered by the following. No doubt there are many others. Feel free to pass them along.

Fact sheet: Middle Class Economics: The President’s Fiscal Year 2016 Budget (White House Office of Management and Budget) Suggestion: Search “sequestration” in this article. You will find it used ten times.

Top Five Things You Need to Know About Obama’s FY2016 Budget Proposal (National Priorities Project) Tip: A link to the full report is at the bottom of this article.

Report: Analysis of the President’s FY 2016 Budget (The Committee for A Responsible Federal Budget) Snippet: “…the budget does far too little to reduce current debt levels nor slow the growth of entitlement spending over the long-run.”

Comments and questions (i.e., “Leave a reply”) are invited.