A new sequestration update determined defense discretionary spending would need to be cut by $72.4 billion in fiscal 2018 based on the House appropriations bills.
The House passed a “minibus” of 2018 spending bills before leaving town for a month-long recess. Budget experts say the possibility of sequestration isn’t the only reason why the minibus has little chance of survival.
Senate Majority Leader Mitch McConnell (R-Ky.) has promised that Congress will not shut down the government or threaten to default on the national debt. To do that, they’ll need to pass a spending bill after the August recess and then address the debt ceiling. The Bipartisan Policy Center predicts a deadline for raising the borrowing cap will fall in November or December. Steve Bell is senior director of economic policy at the Bipartisan Policy Center. He joined Tom Temin on the Federal Drive with more on the budget outlook.
The military is shrinking, but the Pentagon’s personnel costs keep growing. In fact, it pays about $125,000 per active-duty service member, including both salary and benefits. Two Washington think tanks are raising alarms. They say the Pentagon needs to do something now so it doesn’t have to cut other critical parts of its budget later on. Steve Bell is senior director of economic policy at the Bipartisan Policy Center. He joined Tom Temin and Emily Kopp on the Federal Drive to discuss why the personnel cost has become expensive.
On the Federal Drive show blog, you can listen to our interviews, find more information about the guests on the show each day, as well as links to other stories and resources we discuss.
Budget analyst Steve Bell says there is “no chance” Congress will be able to pass a plan to avoid sequestration — the automatic, across-the-board cuts that would go into effect Jan. 2, 2013, as part of last summer’s deficit deal.
Congress returns to session this week with a few short months to reach a budget resolution for the new fiscal year starting Oct. 1 and agree on how to avoid the automatic spending cuts of $1.2 trillion over the next decade that will be triggered Jan. 2, 2013, under the Budget Control Act debt limit deal. But don’t expect much to get accomplished before the election, say budget experts.
Between ongoing 2012 budget negotiations and the automatic cuts triggered by the supercommittee, Steve Bell, senior director of the Bipartisan Policy Center’s Economic Policy Project, says this is as good as it’s going to get for federal employees for the foreseeable future.
Steve Bell, the senior director of economic policy at the Bipartisan Policy Center, joined the Federal Drive with Tom Temin and Amy Morris to provide an update into how the supercommittee is coming along and what it all means for the federal budget and federal employees.
The Senate passed a continuing resolution to extend spending six weeks beyond the current fiscal year, ending on Friday. The House plans to vote Monday on the bill which funds government until Nov. 18. But on Nov. 23 is another important budget date — the joint select committee on deficit reduction must submit its recommendations to Congress on ways to reduce $1.2 trillion to $1.5 trillion in cuts over the next decade.