President Obama plans to ask Congress for the authority to merge six trade and commerce agencies in a move to pare redundant costs, according to a report in The Hill today.
The proposed merger is part of broader considerations to streamline government that have been under discussion by the Office of Management and Budget for a number of months, a senior administration told The Hill. Keep reading →
The failure of the Congressional Super Committee last month initiated a new phase in the defense spending debate.
Barring intervention from the Congress and President, the Committee’s failure results in an average reduction of $55 billion per year over nine years, beginning in January 2013, from defense spending that now exceeds $700 billion annually. Both sides of the debate have begun employing wizardry to use a variety of numbers to make their respective arguments on the right level of spending. Keep reading →
Uncertainty continues for anyone involved with the federal budget. Just a few weeks ago, the hope was the Congressional Super Committee would set forth a clear path for deficit reduction. The framework would guide Congress to get the federal government back into a normal cycle of passing annual budgets by the beginning of the fiscal year on October 1.
Now that the Super Committee has failed, the question is “So now what?” on the federal budget? Keep reading →
In the old days, Congress would disagree over the federal budget for a few months before coming together to pass a budget by the start of the new fiscal year on October 1. This changed in the 1990s. The budget has since become a political battleground with Congress rarely passing a budget on time. The current fiscal year is no exception with the Super Committee looking at deficit reductions and elections looming in 2012.
This fiscal year 2012 has started under a Continuing Resolution (CR). CRs are normally a simple pro-rata allocation of the prior fiscal year that funds the government while Congress works toward a solution. For example, the current CR provided 45/365 (Oct. 5 to Nov. 18) of last year’s funding levels, minus 1.5%, to Executive Branch Agencies. Congress passed a “minibus” on Thursday containing three appropriation bills but most of the government is under another CR until December 16. Keep reading →
There is a lot of frustration in America today. Income inequality is on the rise and opportunities to find good paying work are scarce. A Wall Street Journal/NBC poll this week found that over three-quarters of respondents believe the structure of the economy favors the rich. It seems many Americans think politics is rigged. They might be right. The cause, however, might be a surprise.
The cause is not elected officials, corporations, or the political parties. It is the national election system. Keep reading →
COMMENTARY:
Despite what seems to be a political deadlock and an endless election cycle, some folks in Washington are indeed trying to accomplish a few items – and potentially for the better as it pertains to concerns about cybersecurity.
Data breaches ranging from Stuxnet to PlayStation have reached most constituents and even their living rooms in some cases. This rash of high level and public data breaches has helped Congress move forward the SAFE Data Act. The proposed bill would establish security and data breach notification standards for organizations that collect private information from consumers and deserves more than casual attention. Keep reading →
I got a chance to look through the Government Accountability Office’s latest report recommending that the Office of Management and Budget “needs to improve its guidance on IT investments” in government.
No doubt, the biggest underlying issue driving over investment in federal information technology is redundancy in government. Keep reading →
There are a lot of ideas on how to address the looming crisis of trillion dollar annual deficits and a $14 trillion national debt. Congress has ideas and so does the President. All of the ideas involve choosing winners and losers, who will be taxed or receive tax breaks. Given the deep political and economic divisions in the country right now, a starting point for progress is voluntary measures.
There are people, even in this terrible economy, who would volunteer their income to help solve the fiscal crisis. Warren Buffett and former President Clinton are not alone in wanting to be asked to do more. Under a couple of conditions, many people with far less resources than Buffett or Clinton would invest in the future of the country. Keep reading →
The U.S. Congressional High Tech Caucus today announced it is launching a new task force to focus congressional attention on cloud computing issues.
Rep. Doris Matsui (D-CA), speaking on behalf of the High Tech Caucus at a congressional briefing, said the task force was being formed “to focus on cloud computing policies, initiatives and to work with stakeholders in the future.” Keep reading →
Alan Blinder, an economics professor at Princeton University, was a member of the Council of Economic Advisers under President Bill Clinton. Glenn Hubbard, dean of Columbia University’s Graduate School of Business, chaired the Council of Economic Advisers under President George W. Bush.
The smart money in Washington is betting that the Joint Select Committee on Deficit Reduction — the so-called super committee — will fail because the two parties cannot find common ground. What a shame, because the common ground is there for the taking. Keep reading →