Taxpayers may be surprised to learn that they are currently bankrolling the retirement plans of profitable, private sector companies. With a record-breaking national debt, a sinking economy, and millions of Americans facing losses to their own retirement accounts, taxpayers should not be on the hook for tens of billions of dollars for private contractor pensions and benefits.
Minibus Drives Savings
On November 18, 2011, President Obama signed the “minibus” appropriations legislation, which contained three fiscal year (FY) appropriations bills: the Department of Agriculture, Rural Development, Food and Drug Administration, and Related Agencies; Commerce, Justice, Science and Related Agencies; and Transportation, Housing and Urban Development, and Related Agencies. According to a November 17, 2011 press release by House Speaker John Boehner (R-Ohio), the legislation decreases spending in these appropriations bills by $7 billion from fiscal year (FY) 2011, and comes in at $98 billion below the president’s budget request.
News from ALEC
The American Legislative Exchange Council (ALEC) held its States and Nation Policy Summit in Scottsdale, Arizona from November 29, 2011 to December 2, 2011. Citizens Against Government Waste (CAGW) staff was present during several meetings of the Tax and Fiscal Policy Task Force. Topics included twenty-first century commerce and taxation, and different methods of simplifying current state sales tax models for online, telephone and catalog purchases. The Civil Justice Task Force also held a review of state workers’ compensation reform proposals in its newly formed Workers’ Compensation Subcommittee.
Time to End Earmarks Once and For All
Year after year, lawmakers have sullied the political process by directing chunks of the federal budget back to their home districts and states to promote their own reelections and reward special interests. In an attempt to put an end to this form of profligate spending, Senators Claire McCaskill (D-Mo.) and Pat Toomey (R-Pa.) recently introduced S. 1930, The Earmark Elimination Act, which would build upon and make permanent the current earmark moratorium that is set to expire at the end of 2012.
Two Different Worlds: Public vs. Private Sector Compensation
Despite the popular belief that federal employees are underpaid public servants, the data tells a very different story. When all of the factors that affect compensation are accounted for, there is significant evidence that federal employees make considerably more than their private sector counterparts.
Sequestration Option Discussed After Super Committee Fails to Deliver
Since the Budget Control Act (BCA) was signed into law on August 2, 2011, all eyes had been on the Joint Select Committee on Deficit Reduction. With a looming $15 trillion national debt, weak economy and failing financial markets, this “Super Committee” was tasked with finding $1.5 trillion in savings over 10 years. A bipartisan group of 12 representatives and senators were chosen for the job, including Reps. Xavier Becerra (D-Calif.), Jim Clyburn (D-S.C.), Chris Van Hollen (D-Md.), Fred Upton (R-Mich.), Dave Camp (R-Mich.), and Jeb Hensarling (R-Texas), and Senators Max Baucus (D-Mont.), John Kerry (D-Mass.), Patty Murray (D-Wash.), Jon Kyl (R-Ariz.), Rob Portman (R-Ohio) and Pat Toomey (R-Pa.).
Congress and the Criminal CLASS
When President Obama signed his contentious healthcare bill, the Patient Protection and Affordable Care Act (PPACA), on March 23, 2010, his administration and a Democratic Congress had spent months convincing many lawmakers, pundits, and voters that expanding subsidized healthcare was not only the right thing to do, but that it would be beneficial for taxpayers in the long term. Fiscal conservatives (including Citizens Against Government Waste) howled that the Congressional Budget Office’s (CBO) 10-year, $210 billion deficit reduction estimate for the bill was wildly overstated. But the CBO is supposed to be a nonpartisan judge, and advocates on both sides of the aisle have long cited its findings as backing for a variety of causes. Accordingly, cries of fuzzy math or budget gimmickry fell on deaf ears.
Zombie Budget: Payments to the Deceased
Halloween is around the corner, which means that in the coming weeks it will be more important than ever to be on the lookout for signs of the zombie apocalypse. Should those signs start to appear, any possible advantage for the living over the undead will be of the utmost importance. Tragically, the zombies have a head start in gathering resources for any impending battle, and their chief financial backer appears to be the federal government. Because when it comes to giving money to dead people, the government is in a class of its own, and while it might be tempting to forgive the feds for their confusion – the latest rash of imbursements for the dead involves federal employees, who are sometimes difficult to distinguish from zombies – taxpayers surely deserve better.
The Shovel-Ready Jobs Swindle
The money would be spent on a variety of infrastructure projects, such as improved highways, railways, and transit systems. The national infrastructure bank, according to Rep. Rosa DeLauro (D-Conn.), would end up functioning as a “public private partnership like Fannie Mae.” Such a comparison should give taxpayers heartburn.
Slash Spending Now!
President Obama was quite clear on his expectations for a deal to raise the debt limit: “The only bottom line that I have is that we have to extend this debt ceiling through the next election, into 2013.” While the President blatantly telegraphed that he cared only about his own reelection rather than taking responsibility for the nation’s fiscal issues, House Republicans offered solutions that would have ensured that lawmakers remained accountable for their actions, instead of simply giving elected officials a pass. However, congressional leaders spun their wheels as they found it impossible to negotiate with a wavering White House.