Federal Budget

Link: GOP Calls for Spending Cuts to Federal Budget

Summary: The House is expected to vote to keep the federal government funded until April 8th. As of now, the government only has spending authority until Friday, March 18th. Many believe letting the government shutdown would cause Congress to think more seriously about the budget and the enormous debt this country owns.

Relevance: We learned early in the year how the federal budget for the next fiscal year comes to be. First the president submits his proposed budget for the White House to Congress in February. Congress reviews the Presidents budget, and proposes the Congressional Budget Resolution including estimated revenue, surplus or deficit (most likely deficit), and the resulting estimated public deficit. Mandatory spending (Medicare, Medicaid, Social Security)  is automatically included in the budget, while discretionary spending (Military, Education, NASA funding, Infrastructure) that accounts for about a third of the budget must be approved by Congress. Simply put, the budget is then finalized by Congress, and then signed by the President. If not completed by October 1, the government runs the risk of being shut down if a continuing resolution is not passed.

Opinion: For the 2011 fiscal year, we have gone for six months without a budget. That is irresponsible. The next continuing resolution expires on March 18th. I believe that if the government was to "shutdown" then it would encourage Congress to finally agree on a budget. Maybe they will be able to agree on something that resolves debt, but doesn't take away many programs American people use and want.