Obama’s Opening Bid: His FY2013 Budget Request

By: Wednesday November 14, 2012 6:21 am

The White House released to the Washington Postwhat amounts to an opening bid for fiscal slope/grand bargain talks. It turns out that this is actually just what was in the President’s proposed 2013 budget. But since it does add up to $4 trillion over 10 years, and since everyone’s getting serious about negotiations, we can [...]

House Passes 6-Month Continuing Resolution to Fund Government

By: Friday September 14, 2012 6:57 am

The House passed a six-month spending bill that will keep the lights on in government agencies until March 2013. Democrats and Republicans made a bet that the next Congress will find more favorable terrain for them, and kicked any contentious spending issues into it. They may do the same on the fiscal cliff, but there’s [...]

Congress Close to Passing Budget Stopgap as Fiscal Cliff Looms

By: Monday September 10, 2012 10:17 am

Congress comes back for what promises to be a quick mop-up session before the election. The main items of business include two expiring authorizations, one for farm programs and the other for the federal budget. The former is up in the air; on the latter, the House and Senate are closing in on a deal [...]

Fiscal Policies Already in Place Will Depress US Economy in 2013, Regardless of Fiscal Cliff

By: Thursday August 23, 2012 7:41 am

As I noted yesterday, it’s not the threat of recession from the fiscal cliff that is despairing so much as it’s the CBO estimate that, even if the fiscal cliff gets put off, we’re staring at anemic 1.7% growth for 2013, and an unemployment rate remaining above 8% by the end of next year. This [...]

Tentative Deal Reached to Fund Government Through March 2013

By: Tuesday July 31, 2012 12:15 pm

Following up on a previous item, Congressional leaders have indeed agreed to a 6-month stopgap spending bill to avoid a government shutdown at the end of September. The emerging deal is a sharp contrast to previous occasions when House Republicans used the approach of a spending deadline to insist on deep spending cuts in exchange [...]

Stopgap Spending Package Won’t Be Voted On Until After August Recess

By: Tuesday July 31, 2012 8:15 am

House and Senate leaders continue to work on a stopgap spending bill to close out the year, and could announce it as early as today. The bill would extend a continuing resolution on the budget for six months, until the end of March 2013. The spending levels would likely equal those designated in the debt [...]

Congress Moving to Wrap Up Budget, Farm Bill With Short-Term Extensions

By: Friday July 27, 2012 10:55 am

With conservatives in retreat, it does look like we’ll get a six-month stopgap spending bill that will put off any budget hostage-taking until next March, when the character of Congress may change dramatically because of the elections. Politico advances the ball on that story today. Apparently, House Republicans figured out that they have to stand [...]

Bravely Bold Conservatives Running Away on Budget Stopgap

By: Thursday July 26, 2012 8:15 am

House conservatives are running away from one spending fight, asking Eric Cantor to schedule a vote on a stopgap spending bill that would push any budget fight well into 2013. The request would not change the host of fiscal battles expected in the lame duck session; the trigger cuts and the Bush tax cuts would [...]

Republicans May Have Trouble Getting Continuing Resolution for Budget Passed

By: Tuesday July 17, 2012 11:06 am

Stan Collender, one of Washington’s major budget guru, reports that even getting the basic business of Congress done by pre-election deadlines could prove impossible. The basic issue here is that the current budget runs out on September 30. Given the election year, nobody expects a new budget deal by that deadline. However, to keep the [...]

The Fiscal Punt: Lawmakers Could Extend Fiscal Issues Into March

By: Tuesday June 26, 2012 8:16 am

Bloomberg has the story of an emerging deal to extend virtually all fiscal issues that kick in at the end of the year into March 2013, and throwing in the fiscal 2013 budget along with it. Republican and Democratic congressional leaders are weighing whether to delay automatic federal spending cuts until March 2013, according to [...]

FY 2013 Budget Still Looming for Congress Before Election Day

By: Monday March 5, 2012 8:55 am

Despite the deep divisions in Washington and the looming election, Congress still has at least one job to do before November 6. They have to pass a budget or at least fund government operations when the next fiscal year begins on October 1. House Republicans have not shifted their view, regardless of the popularity, that [...]

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