1000 Days Later
What is so special about April 29, 2009?It’s the last time Congress passed a budget. 1000 days later, we are still operating without any plan. I can’t wait to hear about it during the State of the Union tonight. Just like last year’s State of the Union. The budget Obama tried to pass shortly thereafter, modeled on the ideas espoused during his speech, failed 97-0. It was so outrageous, not one Senator of either party would put his name to it.
I’ve read some recent articles about the last 1000 days. Human Events had some worthwhile observations:
Senate Majority Leader Harry Reid (D-NV) said it would be “foolish” to have a budget.Meanwhile, U.S. Rep Sandy Adams penned a short piece about Congressional budget activity, (or lack thereof)
“There’s no need to have a Democratic budget in my opinion,” Reid said in a May interview with the Los Angeles Times. “It would be foolish for us to do a budget at this stage.”
The breakdown in the Senate came after Sen. Kent Conrad (D-ND), chairman of the Budget Committee, failed to get a consensus among panel Democrats last year on any plan that was proposed to the caucus.
The previous Democrat-led Congress had ample time to do so. With President Obama in theWhite House, Senate Majority Leader Harry Reid and former Speaker Nancy Pelosi had the power to implement any budget they chose. Unfortunately, they punted on their responsibilities, choosing to pass legislation creating a national energy tax and an unpopular health-care law instead.And finally, the Heritage Foundation put forth their list of facts about our nation’s budget and America’s money:
So there you have it. The last time Congress passed a budget was with a Democrat in the White house, with a Democrat-controlled Senate, and with a Democrat-controlled House of Representatives. 1000 days ago. So how come no one else is talking about it?
- The last time the Senate passed a budget was on April 29, 2009.
- Since that date, the federal government has spent $9.4 trillion, adding $4.1 trillion in debt.
- As of January 20, the outstanding public debt stands at $15,240,174,635,409.
- Interest payments on the debt are now more than $200 billion per year.
- President Obama proposed a FY2012 budget last year, and the Senate voted it down 97–0. (And that budget was no prize—according to the Congressional Budget Office, that proposal never had an annual deficit of less than $748 billion, would double the national debt in 10 years and would see annual interest payments approach $1 trillion per year.)
- The Senate rejected House Budget Committee Chairman Paul Ryan’s (R–WI) budget by 57–40 in May 2011, with no Democrats voting for it.
- In FY2011, Washington spent $3.6 trillion. Compare that to the last time the budget was balanced in 2001, when Washington spent $1.8 trillion ($2.1 trillion when you adjust for inflation).
- Entitlement spending will more than double by 2050. That includes spending on Medicare, Medicaid and the Obamacare subsidy program, and Social Security. Total spending on federal health care programs will triple.
- By 2050, the national debt is set to hit 344 percent of Gross Domestic Product.
- Taxes paid per household have risen dramatically, hitting $18,400 in 2010 (compared with $11,295 in 1965). If the 2001 and 2003 tax cuts expire and more middle-class Americans are required to pay the alternative minimum tax (AMT), taxes will reach unprecedented levels.
- Federal spending per household is skyrocketing. Since 1965, spending per household has grown by nearly 162 percent, from $11,431 in 1965 to $29,401 in 2010. From 2010 to 2021, it is projected to rise to $35,773, a 22 percent increase.
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