Most Active Stories
It's All Politics
Mon February 13, 2012
With Focus On Obama Budget, Fiscal Watchdog Warns Of Broken Process
Originally published on Tue February 14, 2012 9:36 am
As fiscal experts around Washington and beyond pored over President Obama's 2013 budget proposal, one of the nation's most persistent nags about the need for the U.S. to clean up its budgetary act reminded his fellow citizens of just how much a mess the whole process is.
David Walker, one-time head of the Government Accountability Office, pointed out something that isn't news but still has the power to disturb when you actually take the time to mull it over: Congress has gotten in the habit of not passing spending bills on time or budget resolutions at all, for that matter.
In a YouTube video aimed at educating the public Walker, who now heads the pro-fiscal accountability Comeback America Initiative, also reminds his listeners that only a minority of federal spending is laid out in that spending legislation.
WALKER: "And even when they do pass a budget and spending bills on time, they only control about 38 percent of spending. Can you imagine doing a family budget, a business budget or any other budget that only controls 38 percent of spending. No wonder we have $15 trillion of federal debt and (are) adding debt at record rates..."
Walker means that spending by federal entitlement programs like Social Security and Medicare aren't reflected in those spending bills, for instance.
Walker also points his audience to an online Fiscal IQ test that will probably leave many people feeling like they could stand to learn some more about the nation's fiscal situation, which is his point, after all.