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Posts Tagged ‘budget’

Trump’s 2018 Budget Blueprint (link)

Posted by FactReal on March 16, 2017

TrumpBudgetBlueprintFor2018
President Trump’s White House released today his budget proposal for 2018.

Scroll down for winners and losers.

The budget is called “America First – A Budget Blueprint to Make America Great Again.”

Here is the link to the budget (PDF): #https://www.whitehouse.gov/sites/whitehouse.gov/files/omb/budget/fy2018/2018_blueprint.pdf
WINNERS
– Defense Department: INCREASE: $52.3 billion, 10%
– Veterans Affairs: INCREASE: $4.4 billion, 5.9%
– Homeland Security: INCREASE: $2.8 billion, 6.8%
LOSERS
– Health and Human Services: DECREASE: $15.1 billion, 17.9%
– State Department: DECREASE: $10.9 billion, 28.7%
– Education: DECREASE: $9.2 billion, 13.5%
– Housing and Urban Development: DECREASE: $6.2 billion, 13.2%
– Agriculture: DECREASE: $4.7 billion, 20.7%
– Environmental Protection Agency: DECREASE: $2.6 billion, 31%
– Labor: DECREASE: $2.5 billion, 20.7%
– Transportation: DECREASE: $2.4 billion, 12.7%
– Energy: DECREASE: $1.7 billion, 5.6%
– Commerce: DECREASE: $1.5 billion, 15.7%
– Interior: DECREASE: $1.5 billion, 11.7%
– Justice: DECREASE: $1.1 billion, 3.8%
– Treasury: DECREASE: $519 million, 4.1%

SOURCE
Winners and losers in Trump’s budget blueprint
#http://www.foxnews.com/politics/interactive/2017/03/16/white-house-budget-blueprint-march-16-2017/

RELATED
-Trump’s Budget Takes a Cleaver to Cronyism and Waste at the Energy
#http://dailysignal.com/2017/03/16/trumps-budget-takes-a-cleaver-to-cronyism-and-waste-at-the-energy-department/

Posted in Economy/ Finance | Tagged: , | Leave a Comment »

Miami-Dade Commissioners’ Slush Funds Paid by Taxpayers

Posted by FactReal on August 17, 2011

BUYING VOTES WITH YOUR MONEY
One more example how government bureaucrats misuse taxpayer money to benefit themselves.
Via America Times
Despite steep spending cuts and looming layoffs, Miami-Dade County commissioners continue to stockpile cash that they spend with few restrictions and scant oversight.

Commissioner Sally Heyman is sitting on $804,000 in unspent money, Jose “Pepe” Diaz controls $461,000, Bruno Barreiro has $361,000 and Dennis Moss $354,000. Taken together, commissioners have more than $3 million in surplus taxpayer funds set aside for their personal spending whims.

The money comes from the commissioners’ individual office budgets, which are $814,000 each per year, but aren’t required to be used solely for office expenses such as staff salaries or paper and pens. Instead, the funds are regularly doled out by individual commissioners to favored groups within their districts with virtually no checks or balances; allocations are subject to a perfunctory vote at the end of commission meetings and are rarely denied.

Critics deride the money as slush funds, a stash of political pork that commissioners pass out to curry favor with constituents. Commissioners defend the practice, declaring they best know how money should be spent in their district, and that the funds support good causes.

“If that’s not illegal, it should be,’’ said Dominic Calabro, president and CEO of Florida Tax Watch, a Tallahassee-based government watchdog group, who called the free spending “ripe for mischief” and “blatantly wrong.”

In recent years, commissioners made sure they kept firm control of the taxpayer-funded bounty: They passed an ordinance in 2007 mandating that each commissioner gets to carry over unspent funds at the end of the year, even as they are given a fresh, fully funded office budget for the new fiscal year. The ability to roll over surplus money allows commissioners to build a mountain of cash that can be handed out before an upcoming election. […]

Two years ago, a Palm Beach County grand jury — charged with addressing a “crisis of trust in public governance” after a string of public corruption convictions — called for a slate of reforms. Topping the list: ending county commissioners’ discretionary funds…[T]he process of commissioners individually handing out the funds smacked of unseemly political patronage that “at a minimum, politicized the manner of funding” and created a negative effect “in both fact and perception.” […]

Palm Beach County commissioners discontinued the practice. Broward County commissioners aren’t provided discretionary funds.

Yet Miami-Dade County elected officials have continued the practice, and some commissioners are already signaling they will fight a change.

Sally Heyman, whose district includes Aventura and Bal Harbour, said she should be able to continue steering office funds to nonoffice uses at her discretion. If not, she said, nonprofits are “not going to be getting anything at all. The money wouldn’t be available.”

Barreiro said the use of office funds for nonoffice discretionary purposes is “done to benefit the community. Commissioners each fund programs in our areas.”

The commissioner, whose district includes Miami Beach and Miami’s Little Havana neighborhood, defended his hefty carry-over funds, saying they illustrate his frugality. “One reason I have been saving is I am looking forward to improving the computer system in my office,” he said. “You know, the computers become outdated quickly.”

BIGGEST SPENDER
This biggest spender this year: Commissioner Diaz, who handed out $227,505 of office funds to constituent groups. Diaz was on vacation and unavailable for comment, his office said Friday.

The debate about how commissioners can use their office funds is not new.

Two years ago, amid increased scrutiny of the practice, two other sources of discretionary funding were zeroed out. Miami-Dade Mayor Carlos Alvarez axed the commissioners’ “Discretionary Reserve” and “County Services Reserve” accounts, eliminating $400,000 in funds per commissioner that could be doled out with few restrictions. Those discretionary funds were in addition to the office funds. With those gone, commissioners have turned to their handsome “office” budgets. “When flagged, they have been clever about calling it something else. It is no longer a ‘discretionary’ fund but is buried in the office budget,” said Douglas Halsey, a lawyer with White & Case, which is taking a hard look at Miami-Dade discretionary spending on its own on a pro bono basis.
“It is clear that county commissioners have for years enjoyed being able to use taxpayer dollars for patronage purposes.”

As Gimenez is pledging to end discretionary funding and require surplus monies be returned to the general fund, some commissioners may take no chances and begin rapidly unloading their largess before the fiscal year runs out Sept. 30. Commissioners are in recess for August and return in September.

Last week, county commissioners closed their meeting by taking turns individually doling out, in rapid fire, nearly $100,000 in office funds.

Barreiro handed $18,000 to American Coach Lines to hire the bus company to transport seniors in his district to holiday parties later this year. Heyman doled out $10,000 to the Miami Project to Cure Paralysis.

Commissioner Audrey Edmonson allocated nearly $5,000 toward backpacks for the “District 3 Annual Back-to-School event.” Commissioner Barbara Jordan allocated $235.65 for expenses “related to District 1’s Annual Senior Valentine’s Day Dance.”

All the spending raises a looming question: If commissioners can save so much of their office fund for future years or spend it on nonoffice expenses, why do they get such a big office budget?

As part of a countywide budget-cutback totaling some $400 million, Gimenez has proposed cutting the Board of County Commissioners’ overall budget by 10 percent. But there are other departments under commission control, including the Office of Protocol, the commission auditor and Intergovernmental Relations.

As a result, commissioners could choose to slash those budgets while keeping their individual office budgets at current levels .

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IRS: Taxing ALL Rich People Not Enough to Pay U.S. Deficit

Posted by FactReal on August 11, 2011

MILLIONAIRES’ INCOME VS. BUDGET DEFICIT
A recent IRS report proved that if government confiscated the entire annual earnings from the so-called rich, it would not provide enough money to pay the annual budget deficit:
● People with annual incomes over $1 million earned a total of $727 billion in 2009.
● People with incomes of $10 million per year or more earned a total of $240 billion in 2009.

The $727 billion from those millionaires would not be enough to cover the 2011 U.S. budget deficit which is estimated to reach $1.5 Trillion. It would not have been enough to cover any of Obama’s deficits which ran up to $1.3 Trillion in 2010 and $1.4 Trillion in 2009.

Here is the 2009 income data according to the IRS:
(http://www.irs.gov/pub/irs-soi/09inalcr.pdf)

The Charleston Daily Mail explained there are not enough “rich” people to cover the deficit:
Soak the rich, eh?

They do not have the money.

A report from the Internal Revenue Service found that the rich — 8,274 people with incomes of $10 million per year or more — earned a total of $240 billion in 2009.

Even of you confiscated every dime they earned, you would barely have enough money to cover government spending for 24 days.

Of course, about a quarter of that money already goes to the federal government for federal income. So make that 18 days.

Another 227,000 people earned $1 million or more in 2009.

Millionaires averaged taxes of 24.4% of their income — up from 23.1% in 2008.

They, too, did not earn enough money to come anywhere close to covering the annual deficits that are $1.5 trillion a year.

Barack Obama was the first president to sign a budget with a $1 trillion deficit into law.

[…]

We must cut. We cannot afford to buy everything we want.

 
 
SOURCES
– IRS report, http://www.irs.gov/pub/irs-soi/09inalcr.pdf
 

Posted in Economy/ Finance | Tagged: , , , , , , , | 2 Comments »

Obama’s Fiscal Record: A Brief History

Posted by FactReal on July 20, 2011

Via Committee on the Budget of the U.S. House of Representatives: (Hat tip: Mark Levin)
 
  Despite newfound concern with the debt overhang stifling economic growth, President Obama’s record falls far short of his rhetoric.  Let’s review the decisions made by President Obama and Congressional Democrats over the past couple of years, and the disappointing results of their policy choices:

January 20, 2009 
President Obama sworn into office

  • President tells the American people in his Inaugural Address: “Those of us who manage the public’s dollars will be held to account, to spend wisely, reform bad habits, and do our business in the light of day, because only then can we restore the vital trust between a people and their government.” [http://www.whitehouse.gov/blog/inaugural-address]
  • Debt Held By Public = $6.31 trillion [Does not include Intragovernmental Holdings or Debt]

February 17, 2009
President Signs into Law the Spending Stimulus

  • The stimulus adds $821 billion in new spending according to the Congressional Budget Office (CBO).
  • The White House promises this infusion of spending and borrowing would keep unemployment rate below 8%.  As millions of Americans are painfully aware, that promise was broken.
  • Debt Held by Public = $6.48 trillion

February 26, 2009
President Issues FY2010 Budget

  • The President’s budget adds $2.7 trillion in new debt in FY2010 and imposes $1.4 trillion in new taxes.
  • Debt Held by Public = $6.58 trillion

 

March 11, 2009
President Signs FY2009 Omnibus Appropriations Act

  • The massive spending bill includes 8,696 earmarks at a cost of $11 billion.
  • The spending bill adds $19 billion in new spending above the baseline – an 8.6% spending increase.
  • Debt Held by Public = $6.66 trillion
 
 
Keep reading… 
 

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