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FCW : November 15, 2012
BackStory 34 November 15, 2012 FCW.COM Across-the-board cuts are mandated only for scal 2013. After that, Congress can allocate cuts however it chooses. At any point, Congress can change the rules or target amounts through legislation. Sources: Center on Budget and Policy Priorities, Congressional Budget Of ce, Department of the Navy, Bureau of Economic Analysis, Defense Department, Of ce of Management and Budget, Heritage Foundation $54.7B from defense programs is the equivalent of: $54.7B from non-defense programs is the equivalent of: 231 F-35 Joint Strike Fighters Annual salaries for 375,000 service members 10 weeks' pay for the entire civilian workforce The budgets of Commerce, EPA, NASA, NSF and Treasury combined And it's all subject to change: 9.9% of the scal 2012 de cit 0.6% of the total federal debt $109.3 billion represents: ...but it's still just a drop in the bucket The president can exempt military salaries; OMB projects 9.4 percent cuts to discretionary defense spending. The law exempts Pell grants and veterans' health. OMB projects 8.2 percent cuts to discretionary non- defense spending. less than 1/3 of the growth in discretionary spending over the last decade or or The Budget Control Act, which requires $1.2 trillion in de cit reduction over nine years, mandates $109.3 billion in scal 2013 spending cuts -- divided equally between defense and non-defense programs. That means hard choices...
October 30, 2012
November 30, 2012