Iffy Spending Cuts Part of Budget Pact

Saturday, 09 Apr 2011 06:17 PM

 

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink

Almost half of the budget cuts, some $18 billion, in the budget pact between President Barack Obama don't involve cuts to agency operating accounts spending hawks like to target. They involve cuts to so-called mandatory programs whose budgets run mostly on autopilot. Such cuts officially "score" as savings that could be used to pay for spending elsewhere, but they often have little real impact in terms of cutting the deficit.

They include:

—$2.5 billion in leftover highway money unavailable under current budget caps.

—$500 million from reforms to the Pell Grant program.

—$3.5 billion in unused Children's Health Insurance Program funds.

—$5 billion in "phantom" savings from capping payments from a Justice Department trust fund for crime victims. Under arcane budget rules, appropriators can claim year after year the full amount of money in the trust fund.

—$400 million in similar savings from capping a Treasury fund to help pay for the department's crime-fighting efforts.

—$2.2 billion in cuts to subsidies for health care cooperatives.

© Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved