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Keyword: spending

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  • Feds Collect Record Individual Income Taxes Through June; Still Run $607B Deficit

    07/13/2018 10:42:22 AM PDT · by Red Badger · 16 replies
    www.cnsnews.com ^ | July 12, 2018 | 10:48 PM EDT | By Terence P. Jeffrey
    The federal government collected a record $1,305,490,000,000 in individual income taxes through the first nine months of fiscal 2018 (October 2017 through June 2018), according to the Monthly Treasury Statement released today. Despite the record individual income tax collections, the federal government still ran a deficit of $607,099,000,000 over those same nine months, according to the Treasury statement. The approximately $1,305,490,000,000 in individual income taxes that the Treasury collected in October through June of this fiscal year was $71,815,310,000 more (in constant June 2018 dollars) than the $1,233,674,690,000 (in constant June 2018 dollars) in individual income taxes that the Treasury...
  • Macron Denies Trump Claim That NATO Allies Agreed to Increase Spending Beyond Goals

    07/12/2018 12:40:11 PM PDT · by tcrlaf · 75 replies
    Mediaite/MSN ^ | 7-12-2018 | Aidan McLaughlin
    President Donald Trump on Thursday said NATO allies agreed to “substantially up their commitment” to the alliance after he told leaders he was “extremely unhappy.” “Tremendous progress has been made. Everyone’s agreed to substantially up their commitment. They’re going to up it at levels that they’ve never thought of before,” Trump said at his press conference in Brussels. “Commitments were made,” he said. “The commitment was at 2 percent, ultimately that’ll be going up quite a bit higher than that.” French President Emmanuel Macron denied that any NATO members had agreed to boost contributions beyond 2 percent GDP. “There is...
  • Consumers Buy More Shoes and Apparel in May As Disposable Income Edges Up

    07/01/2018 3:57:46 PM PDT · by 2ndDivisionVet · 5 replies
    Footwear News ^ | June 29, 2018 | Arthur Friedman
    Despite some slowdown in the pace of growth, solid economic indicators, like a rise in consumer spending, point to positive signs for the U.S. economy. The Bureau of Economic Analysis reported Friday that disposable personal income (DPI), a key gauge for retail spending, rose 0.4 percent, or $63.2 billion, in May. Personal consumption expenditures (PCE) grew 0.2 percent, or $27.8 billion, and was up 2.3 percent from May 2017. Real DPI, income adjusted for taxes and inflation, increased 0.2 percent in May, and real PCE decreased less than 0.1 percent, the BEA said. The PCE price index was up 0.2...
  • A Spending Embarrassment

    06/24/2018 11:46:50 AM PDT · by Tolerance Sucks Rocks · 7 replies
    The Wall Street Journal ^ | June 24, 2018 | WSJ Editorial Board
    Republicans have had a rough week, mostly of their own making, and on Wednesday they added to their self-punishment with a spending fiasco in the Senate. Two GOP Senators blocked the Trump Administration’s rescissions package that would claw back $15 billion, much of which wasn’t even likely to be spent under current policy. A Senate procedural vote to move the rescissions package failed 48-50 after defections from Susan Collins of Maine and Richard Burr of North Carolina. From what we’ve heard Ms. Collins wanted to keep the money on ice so if it isn’t spent as part of its current...
  • House approves Trump's bill to slash $15 billion in federal funds...

    06/08/2018 6:21:10 PM PDT · by caww · 38 replies
    washingtonexaminer ^ | 6/7/2018 | by Al Weaver
    Late Thursday the House passed President Trump's proposal to rescind $15 billion in previously appropriated funding by the government that was never spent.....Lawmakers approved the bill in a narrow 210-206 vote, which was close because 17 Republicans voted against it. The vote is meant to put conservatives at ease about the huge two-year spending deal lawmakers reached this year, which will increase spending by about $300 billion over that period of time. President Trump and the White House worked closely with House Majority Leader Kevin McCarthy, R-Calif., on the package, entitled the Spending Cuts to Expired and Unnecessary Programs Act....
  • See the list: Gov. John Bel Edwards vetoes projects in state construction bill

    06/08/2018 8:01:19 AM PDT · by Tolerance Sucks Rocks · 2 replies
    The Advocate ^ | June 6, 2018 | Mark Ballard
    <p>Acadiana lost $26.6 million in proposed construction projects with the stroke of Gov. John Bel Edwards veto pen Wednesday.</p> <p>Twenty-nine projects were part of the 40 items struck from the state’s annual construction budget by Edwards using his line-item veto authority.</p>
  • House passes Trump's plan to claw back $15 billion in spending

    06/08/2018 5:37:11 AM PDT · by cotton1706 · 24 replies
    thehill.com ^ | 6/7/18 | Juliegrace Brufke and Niv Elis
    The House voted along party lines late Thursday to pass a White House proposal that would claw back nearly $15 billion in previously approved government funding. The House approved the measure in a vote of 210-206, with conservatives calling it a step in the right direction after they ripped into the price tag of the $1.3 trillion spending bill President Trump signed earlier this year
  • Does the Average Teacher Spend ‘Nearly $500 a Year’ on School Supplies?

    06/01/2018 9:59:37 AM PDT · by SeekAndFind · 95 replies
    National Review ^ | 05/31/2018 | By FREDERICK M. HESS & RJ MARTIN
    An honest teacher-pay debate requires careful attention to the facts. This spring’s teacher walkouts have spurred renewed attention to the question of teacher pay. The topic is a serious one, warranting the extensive reportage it’s received. At times, however, the media’s progressive sympathies, the allure of hard-luck tales, and concerted PR by teachers’ unions have yielded some questionable coverage. A recent case has been the spate of stories suggesting that teachers routinely reach into their own pockets to spend extraordinary sums on classroom materials. “There is no other job I know of where the workers subsidize what should be a...
  • Why getting money for Interstate 73 is such a struggle

    05/16/2018 8:05:30 AM PDT · by Tolerance Sucks Rocks · 7 replies
    McClatchy DC Bureau ^ | March 19, 2018 | Emma Dumain
    WASHINGTON By Washington standards, it shouldn’t be that hard to get money for Interstate 73, a decades-in-the-making, $2 billion project to connect 75 miles of road from the North Carolina border to the tourist hub of South Carolina’s Myrtle Beach. But Rep. Tom Rice, R-S.C., the local congressman and the road’s key backer, is struggling to get the project going. He does have support from his state’s two U.S. senators. Sen. Lindsey Graham, R-S.C., recently called the interstate the second most important economic priority for South Carolina behind dredging the Charleston Harbor. Al Simpson, a well-connected Washington lobbyist who was...
  • California governor announces unexpected $8 billion in tax revenue

    05/12/2018 12:43:32 PM PDT · by EagleUSA · 42 replies
    Los Angeles Times ^ | 5/12/2018 | John Meyers
    SACRAMENTO - Even in the wake of previous tax windfalls, Gov. Jerry Brown's announcement on Friday was breathtaking: The state has collected an unexpected $8 billion in tax revenue in recent months, even more additional cash than reported in January. The money is the latest installment in a fiscal winning streak of historic proportions in California. And, as in previous years, the governor's newly revised budget seeks to divvy it up either on short-term spending or long-term savings by putting it into government reserves.
  • Congress Is Aiming Toward Another Omnibus Spending Disaster. Here’s How To Prevent That

    04/28/2018 5:18:37 PM PDT · by SeekAndFind · 6 replies
    The Federalist ^ | 04/28/2018 | Sen. Mike Lee and Rep. Jim Jordan
    “I will never sign another bill like this again,” President Trump said after signing last month’s 2,232-page, $1.3 trillion omnibus spending bill. President Trump is right. The omnibus bill Congress passed this March betrayed everything for which conservatives stand.Not only did it bust the spending caps conservatives worked so hard to secure in 2011 by more than $250 billion, but it also failed to build the border wall President Trump promised during his campaign. The bill also included language limiting the ability of federal law enforcement officers to enforce our nation’s immigration laws. House Minority Leader Nancy Pelosi identified...
  • Trump's vitally important anti-poverty initiative

    04/18/2018 2:47:32 PM PDT · by Tolerance Sucks Rocks · 23 replies
    StarParker.com ^ | April 17, 2018 | Star Parker
    It takes a lot of courage for a president to target almost a quarter of the federal budget for reform in an election year. But this is exactly what President Trump is doing with his executive order, "Reducing Poverty in America by Promoting Opportunity and Economic Mobility." We're now spending more than $700 billion per year on low-income assistance, which is more than we are spending on our national defense. And there are plenty of reasons to believe this spending is inefficient, wasteful and counterproductive. Over the last half-century, some $22 trillion has been spent on anti-poverty programs and yet...
  • Rolling Back the Tide of Overspending (How Trump Can Do It)

    04/18/2018 10:33:45 AM PDT · by SeekAndFind · 20 replies
    Townhall ^ | 04/17/2018 | Ed Fuelner
    When President Trump signed the 2,232-page, $1.3 trillion omnibus spending bill last month, he was emphatic that it wouldn’t happen again.Referring to the fact that no one could possibly have had time to read this mammoth piece of legislation, he said, “I will never sign another bill like this again.”The implication, of course, was that nothing could be done about this latest round of massive overspending. Like it or lump it, there it is.But that’s not exactly true. The president can, in fact, do something. He can pursue what’s known as a rescissions package.Don’t let the wonky word cause your...
  • Fallout over tolls divides local, state leaders

    04/16/2018 11:04:32 PM PDT · by Tolerance Sucks Rocks · 18 replies
    The political tide has turned against toll roads in Texas, imperiling a Tomball interchange project and hamstringing frustrated local officials, while setting an ominous tone for projects to come. For years, state officials relied on tolls to tackle some of TexasÂ’ biggest traffic messes as a way to build without adding taxes. Since 2016, however, Gov. Greg Abbott and Lt. Gov. Dan Patrick have taken hard-line stances against the mixing of Texas Department of Transportation money and toll revenues. Most Popular More men accuse former Texas judge, Baptist leader of sexual misconduct Breaking down 2018 Texas A&M football: Quarterback With...
  • Why P3s can be a project delivery method worth the risk

    04/09/2018 12:45:30 PM PDT · by Tolerance Sucks Rocks · 9 replies
    ConstructionDIVE ^ | March 26, 2018 | Mary Tyler March
    Design-bid-build may still be the No. 1 project delivery method for U.S. construction, but other processes are rising that could challenge DBB’s stake in how some projects are carried out.One such arrangement, public-private partnerships (P3), is gaining steam with talks from Washington, D.C., about employing the method for President Donald Trump’s $1.3 trillion infrastructure spend. While more states and local entities are successfully turning to P3s to tackle major infrastructure overhauls and new projects, the method still runs up against a perception problem. Some elected officials are hesitant to employ P3s because they don’t want to let a private firm...
  • Wear: Money-making tollways a good thing in Austin, not for state leaders

    04/09/2018 11:13:04 AM PDT · by Tolerance Sucks Rocks · 23 replies
    The Austin American-Statesman ^ | April 1, 2018 | Ben Wear
    All you toll road haters, limber up your fingers for the flaming responses to this column.Because the toll road story here in Central Texas that I’m about to tell you, based on usage and revenue, is a good news story. The simple fact is that the nine toll roads here, other than the privately run section of Texas 130 south of Mustang Ridge, are being heavily used and are financially healthy.This is certainly not the uniform case around the country, where a number of toll roads in the past decade have gone bankrupt. In Central Texas, well over 1 million TxTags...
  • Turnpike Authority responds to Oklahoma representative’s bill calling for yearly audit

    04/09/2018 10:35:04 AM PDT · by Tolerance Sucks Rocks · 8 replies
    Oklahoma's News 4 ^ | January 11, 2018 | Dylan Brown
    OKLAHOMA CITY, Okla. – An Oklahoma representative says that she has filed legislation this week that would increase the financial scrutiny given to the Oklahoma Turnpike Authority. House Bill 2530 would require the state auditor and inspector to perform an audit of the Turnpike Authority at least once every two years. “Taxpayers deserve to know where their hard-earned money is going,” Rep. Tess Teague said. “The Turnpike Authority has an annual budget of nearly $100 million, and lawmakers owe it to Oklahomans to track those dollars closely.” The legislation dictates that the audit will take no more than 90 days....
  • Brennan Is ‘Doing Putin’s Bidding’ With Anti-Trump Rhetoric, Says Former CIA Station Chief

    04/05/2018 12:28:24 PM PDT · by ding_dong_daddy_from_dumas · 25 replies
    The Cypher Brief ^ | April 5, 2018 | Daniel Hoffman
    As a former KGB officer and director of its successor, the FSB, Putin’s weapons of choice for this covert campaign are espionage, and influence operations that target our political differences to weaken and divide us. That’s why I was particularly upset when former CIA Director John Brennan delivered cringe worthy tweets excoriating President Donald Trump’s character and then “speculating” on MSNBC that Trump has not said anything negative about Putin because Trump “has something to serious to fear.” He insinuated Putin was in a position to blackmail the president.
  • Congress Curbs [Education Secretary] Devos's Agenda

    03/31/2018 11:01:03 AM PDT · by JeepersFreepers · 20 replies
    The Wall Street Journal ^ | March 30, 2018 | Michelle Hackman
    Congress last week awarded the department a $2.6 billion boost when Mrs. DeVos had requested a $9 billion cut. She had sought to dismantle her agency’s central budget office, a move she said would create a leaner structure, and to cut the number of field offices in the civil-rights division to four from 12. The spending package included specific measures preventing her from doing so.Much of the additional funding for the department boosted initiatives undertaken by the Obama administration. None went to her signature request, a $1 billion program to expand school choice, though there was a slight increase in...
  • Why Are States So Strapped for Cash? There Are Two Big Reasons

    03/29/2018 12:37:10 AM PDT · by qaz123 · 25 replies
    WSJ | 28Mar18 | Cezary Podkul & Heather Gillers
    The only speaker standing between state budget officers and the opening cocktail hour at a Washington conference was the U.S. Secretary of Health and Human Services. What he said left no one in a celebratory mood. Medicaid costs, said then-Secretary Michael Leavitt, were projected to grow so fast that within 10 years they would “crowd out virtually every other category of spending.” State spending on higher education, infrastructure and safety, he predicted, would all get squeezed.