Fiscal projections now look substantially worse than they did just last year, let alone in 2010, when a new Congress was elected on campaign promises to rein in deficits.
BPC Senior Vice President Bill Hoagland talked about the current status of the federal budget and congressional options for addressing sequestration.
Washington has lurched from one crisis to another and kept the government running by means of continuing resolutions and massive appropriations bills.
The reckless fiscal policy known as sequestration is about to claim another victim.
More and more, standard operating procedure in Congress seems to employ “creative” accounting methods to game the system and get around defense spending caps.
This is the first time in six years that a budget conference blueprint has been agreed to by Congress.
GOP lawmakers have sparred over a comparatively small sliver of war funding in congressional budget debates.