FY 2010 U.S. federal budget

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Summary (how summaries work)
On February 26, 2009, President Barack Obama submitted (as is customary for a president to do so) a budget request to the U.S. Congress for fiscal year (FY) 2010. Obama highlighted health care, clean energy, education, and infrastructure as priorities for the budget, which he called "A New Era of Responsibility: Renewing America's Promise."[1]


The House and Senate have approved a budget resolutions outlining spending priorities, and Congress is working on the twelve appropriations bills that constitute the federal budget.[2]



Contents

Background

Funding for the government is provided by Congress under Article I, Section 9, Clause 7 of the Constitution. This is the "purse strings power" and there are no exceptions to it. Absent appropriations made by law, no operations by the government may take place: government employees may not work without pay and those who would contract with the government may not "volunteer" their goods or services.

Funding for government employees salaries and wages(including the President) is provided in "one year" funds which expire at the end of a fiscal year. While Congress may pass "continuing resolutions" providing some interim funding where appropriations are not timely enacted, in the absence of such continuing resolutions no government employee may work.

Budget details

In all, the $3.5 trillion budget contains a number of spending increases on domestic programs, resulting in a corresponding increase in the federal deficit. The federal deficit is forecast to be $1.75 trillion in 2009, declining to $1.17 trillion in 2010 (the first year of the plan) and $533 billion by 2013.[3]

The annual increase in federal debt due to these deficits will total $2.56 trillion in 2009, declining to $1.14 trillion in 2010 and $520 billion by 2013.[4] However the total annual increase in federal debt will be $2.72 trillion in 2009, declining to $1.37 trillion in 2010 and $925 billion by 2013.[5] The difference between the debt due to federal budget deficits and the total federal debt is made up of debt held in government accounts,[6] mainly the Social Security and Medicare trust funds, which invest their excess receipts in government debt.

Tax increases will be levied on the highest income earning taxpayers, returning the highest marginal tax rate to the Clinton-era level of 39.6%.[7] The levels of funding for Medicare, Medicaid and Social Security has increased by 13% over the 2009 federal budget. The base Department of Defense budget is also increased through 2014 (Table S-7), from $534 to $575 billion, although supplemental appropriations for the Iraq War are expected to be reduced.

Estimates of revenue are based on GDP growth forecasts that exceed the Congressional Budget Office's January forecast (which does not include the effect of the American Recovery and Reinvestment Act of 2009) through 2010 but which are broadly consistent with it from 2011 through 2019.[8] The budget's GDP growth assumptions are more optimistic than the February Blue Chip consensus forecast through 2014 (by an average of 1.2 percentage points) but again are broadly consistent with the Blue Chip from 2015 through 2019.[9]

Current status

FY 2010 Appropriations Bills [10]
Appropriations
(Links to bills)
House Approvals Senate Approvals Conference Approvals Public Law
Committee Report Comm. Vote House Vote Committee Report Comm. Vote Senate Vote Conf. Report House Vote Senate Vote
Budget Resolution

HConRes85
SConRes13

H.Rept. 111-60 3/25/09 4/2/09
Vote Summary
S.Print 111-16 3/26/09 4/2/09
Vote Details
H.Rept. 111-89 4/26/09
Vote Details
4/29/09
Vote Details
President does not sign
Agriculture

H.R.2997
S.1406

H.Rept.111-181 6/18/09 7/9/09
Vote Details
S.Rept. 111-39 7/7/09 8/4/09
Vote Details
H.Rept. 111-279 10/7/09
Vote Details
10/8/09
Vote Details
10/16/09
P.L. 111-80
Commerce/ Justice/ Science

H.R.2847

H.Rept. 111-149 6/9/09 6/18/09
Vote Details
S.Rept. 111-34 6/25/09 11/5/09
Vote Details
Defense

H.R.3326

H.Rept. 111-230 7/22/09 7/30/09
Vote Details
S.Rept. 111-74 9/10/09 10/6/09
Vote Details
Energy & Water

H.R.3183
S.1436

H.Rept. 111-203 7/7/09 7/17/09
Vote Details
S.Rept. 111-45 7/9/09 7/29/09
Vote Details
H.Rept. 111-278 10/1/09
Vote Details
10/15/09
Vote Details
10/28/09
P.L. 111-85
Financial Services

H.R.3170
S.1432

H.Rept. 111-202 7/7/09 7/16/09
Vote Details
S. Rept. 111-43 7/9/09
Homeland Security

H.R.2892
S.1298

H.Rept. 111-157 6/12/09 6/24/09
Vote Details
S.Rept. 111-31 6/18/09 7/9/09
Vote Details
H.Rept. 111-298 10/15/09
Vote Details
10/20/09
Vote Details
10/28/09
P.L. 111-83
Interior & Environment

H.R.2996

H.Rept. 111-180 6/18/09 6/26/09
Vote Details
S.Rept. 111-38 6/25/09 9/24/09
Vote Details
H.Rept. 111-316

Continuing Resolution
through 12/18/09
10/29/09
Vote Details
10/29/09
Vote Details
10/30/09
P.L. 111-88
Labor/ HHS/ Education

H.R.3293

H.Rept. 111-220 7/17/09 7/24/09
Vote Details
S.Rept. 111-66 7/30/09
Legislative Branch

H.R.2918
S.1294

H.Rept. 111-160 6/12/09 6/19/09
Vote Details
S.Rept. 111-29 6/18/09 7/6/09
Vote Details
H.Rept. 111-265

Continuing Resolution
through 10/31/09

H.Con.Res.191

9/25/09
Vote Details
9/30/09
Vote Details
10/1/09
P.L. 111-68
Military/Veterans

H.R.3082
S.1407

H.Rept. 111-118 6/23/09 7/10/09
Vote Details
S. Rept. 111-40 7/7/09 11/17/09
Vote Details
State/Foreign Operations

H.R.3081
S.1434

H.Rept. 111-187 6/23/09 7/9/09
Vote Details
S.Rept. 111-44 7/9/09
Transportation/HUD

H.R.3288

H. Rept. 111-218 7/17/09 7/23/09
Vote Details
S.Rept. 111-69 7/30/09 9/17/09
Vote Details


Debate and passage

House

On April 2, 2009, the House passed its original version of the FY2010 budget resolution by a vote of 233-196.


Senate

Also on April 2, 2009, the Senate passed its resolution by a vote of 55-43.


Articles and resources

Wikipedia also has an article on FY 2010 U.S. federal budget. This article may use content from the Wikipedia article under the terms of the GFDL.

See also

References

  1. "A New Era of Responsibility: Renewing America's Promise", WhiteHouse.gov, February 26, 2009
  2. "Senate follows House, passes Obama budget plan," CNN.com, April 3, 2009
  3. A New Era of Responsibility, Table S-1
  4. A New Era of Responsibility, Table S-9
  5. A New Era of Responsibility, Table S-9
  6. A New Era of Responsibility, Table S-9
  7. "Historical Top Tax Rate", Tax Policy Center, November 6, 2008
  8. A New Era of Responsibility, Table S-8
  9. A New Era of Responsibility, Table S-8
  10. "Status of Appropriations Legislation for Fiscal Year 2010, Library of Congress's Thomas site. Latest capture and update: June 15, 2008.

External resources

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