Believe it or not the federal budget deficit peaks by year-end and wends its way lower as tax receipts pick up.
In a conference call with reporters on Friday, a senior Obama administration official said the proposals would not add to the federal budget deficit, saying details would be spelled out in the president's budget, expected to be released on 10 April.
Carney argued that the reporting had been skewed and that money to pay for the annual Easter Egg Roll was not paid out of the federal budget through tax dollars but from a combination of private donations and the sale of ceremonial eggs.
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Not the happiest background for the coming federal budget battle.
One thing that practically everyone on both sides of the aisle in Washington seems to agree on is that the sequester cuts that have now officially begun are not the best way to reduce the federal budget deficit.
Not even the relatively good news of a declining federal budget deficit or the impending bad news that Congress has not resolved the rising costs of Medicare.
The funding will be provided by revenues from federal oil and gas development, and will not add any additional costs to the federal budget.
Not only is it news to most Americans that the worst is over, but the federal government is not budget constrained.
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Sources said Clinton reiterated his goal not to spend any of the projected federal budget surplus before lawmakers come up with a plan to shore up the Social Security retirement system.
The Center strongly believes that such a shift can and should be designed so as to encourage continued progress toward a managed reduction in the federal deficit and not simply to relieve the pressure to balance the budget.
Worse yet is the fact that some of the provisions that were adopted in response to those recommendations and as a sop to Mr. Sensenbrenner and his supporters - notably, providing for substantially more Border Patrol and Immigration and Customs Enforcement officers - are not being fully funded in the new 2006 federal budget unveiled today.
The plan supported by Speaker Nancy Pelosi and other Democratic leaders rejects virtually all of these reforms and places blind faith in a massive new government bureaucracy that the Congressional Budget Office warns will drive health care costs -- not to mention the federal debt we'll pass along to future generations -- higher than ever.
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Tax plans that boost federal receipts ensure large budget deficits as far as the eye can see, not to mention a federal government whose size will continue to astound.
In earlier periods when the federal debt was not so large and annual deficits were a much smaller percentage of the total budget the revenue and spending goals of a flat tax may have been much more feasible.
Incidentally, I'm not the first to question Mr. Buffett's commitment to "shared sacrifice" in balancing the federal budget.
But the majority view that spending and tax expenditures are not inherently equivalent speaks directly to a major flaw in how we oversee the federal budget.
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While we're not expecting an immediate return to the halcyon days, the President's proposed federal budget for fiscal 2014 could see some renewed ambition.
While the budget outline does not make specific program cuts, it would likely mean federal funding for most of these programs would be entirely eliminated.
Earlier this year Obama tapped Stern--not a noted budget expert--to a commission that will suggest ways to reduce the federal deficit.
The end will come not with a bang but with the stark realization that the desires that gave rise to this new class of right leaning politicians and allowed them to ride a wave of lower deficits, budget cuts and small government into cushy federal jobs, were not what the people really want after all.
If a new budget or temporary resolution is not in place by 27 March, much of the federal government will shut down.
According to the Congressional Budget Office, the Federal debt held by the public (which does not include social security obligations) was 35 percent of GDP in 2000, 62 percent in the second quarter of 2010, and is expected to reach 70 percent in 2011.
In the speech, the president did not change the broad outline of the vision for the US space agency he first expounded in his 2011 federal budget request.
Republicans will not want to see the Bush tax cuts expire and resist further increases in the federal debt ceiling until a budget and tax agreement has been hammered out.
In case you do not personally know someone who is dependent upon Medicare and whose circumstances could be severely impacted by the current federal budget negotiations, now you do.
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For ideological reasons, the Kremlin cannot easily respond to such concerns, and, in an environment in which the Federal budget is under significant strain and there are more obvious resource constraints, will not simply be able to buy-off all dissent as easily as it did in the past.
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This could mean, for example, that the troops in the various wars could not be supplied or paid, that air traffic controllers could not be paid, that the US government could not roll over the debt that comes due or issue the new debt that pays for 43% of federal budget expenditures.
Without serious budget cuts into entitlements and defense, this would simply not be possible without massive increases in the federal deficit.
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But, look, it is not an inconsequential deal to propose a budget that cuts as substantially as it does in targeted areas so that the federal government lives within its means in order to be able to continue to invest in the future, because you have to have economic growth, you have to have job creation if we're going to address this overall long-term problem.
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