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President Obama's budget, released Monday, was conceived as a blueprint for future spending, but it also paints the bleakest picture yet of the current fiscal year, which is on track for a record federal deficit and will see the government's overall debt surpass the size of the total U.S. economy.
Mr. Obama's budget projects that 2011 will see the biggest one- year debt jump in history, or nearly $2 trillion, to reach $15.476 trillion by Sept. 30, the end of the fiscal year. That would be 102.6 percent of GDP - the first time since World War II that dubious figure has been reached.
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Subjects: Armed Forces, U.S. : Reorganization; Budget, Federal : Accountability and transparency; Budget, Federal : Deficit; Budget, Federal : Fiscal year 2010 budget; Budget, Federal : Government programs, spending reductions; Budget, Federal : National debt; Defense, Department of : Defense contracts :: Contracting policies, reform; Economy, national : Recession, effects; Economy, national : Strengthening efforts; Education : Global competitiveness; Education : Postsecondary education :: Student loan subsidies,...
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The U.S. Department of State (DOS or State Department) has released instructions for the FY 2011 Diversity Immigrant Visa Program (DV-2011), also know...
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HOUSE APPROPRIATIONS COMMITTEE HOLDS A HEARING ON FISCAL YEAR 2007 APPROPRIATIONS FOR THE GOVERNMENT PRINTING OFFICE, THE LIBRARY OF CONGR...
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U.S. SENATE COMMITTEE ON APPROPRIATIONS: SUBCOMMITTEE ON LEGISLATIVE BRANCH HOLDS A HEARINGS ON FISCAL YEAR 2007 BUDGET FOR THE GOVERNMEN...
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We all know what it's called when you do the same thing time after time and expect different results.
And yet, for many years, that's what the city of Memphis has been doing with its traditional budget process. It's why I have begun an overhaul of our budgeting procedures so we can move our focus from yearly crisis management to long-term financial management.
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U.S. SENATE COMMITTEE ON APPROPRIATIONS, SUBCOMMITTEE ON FINANCIAL SERVICES AND GENERAL GOVERNMENT HOLDS A HEARING ON THE FISCAL YEAR 2008...
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The portion of the request related to disposition activities in Russia dropped significantly from the fiscal year 2011 request. Because Congress did not approve fiscal year 2011 funding for most U.S. government agencies before last Sept. 30, the end of fiscal year 2010, the federal government is now operating under a continuing resolution (CR), which will fund the government into March. According to a State Department statement at the time of the protocol's signing, the combined 68 metric tons of plutonium represents enough material to make approximately 17,000 nuclear weapons.
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Since fiscal year 2000, the US Government Accountability Office (GAO) has issued a number of reports and testimonies aimed at raising the level of attention given to improper payments. Their work over the past several years has demonstrated that improper payments are a long-standing, widespread and significant problem in federal government. The Improper Payments Information Act (IPIA) has increased visibility over improper payments by requiring executive agency heads to perform four key steps to address the improper payments reporting requirement -- perform a risk assessment; estimate improper payments for risk-susceptible programs and activities; implement a plan to reduce improper payments for programs with estimates exceeding $10 million; and annually report improper payment estimate...