After several years of rapidly increasing spending and tax collections, Tennessee Gov. Bill Lee has proposed a budget that would spend nearly $10 billion less next year.
That includes $52.6 billion in spending with $25.4 billion from the state and $19.8 billion from federal funds.
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While many lawmakers have preached for years the need for federal spending cuts, the amount of taxpayer money that Congress spends on its own operations has swelled 38% since FY2014 from $4.3 billion to $6.9 billion this year, according to a Just the News review of Congressional Research Service (CRS) reports on annual federal budgets.
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U.S. House Speaker Kevin McCarthy said Wednesday that the White House must agree to spending cuts as part of a debt deal.
“You have to spend less than you did last year,” McCarthy said at a news conference. “That’s not that difficult to do, but in Washington, somehow, that is a problem.”
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Friday morning on The Tennessee Star Report, host Michael Patrick Leahy welcomed Representative Andy Ogles (R-TN-05) to the newsmaker line to discuss the passage of a bill that would cut federal spending and raise the debt limit.
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Thursday morning on The Tennessee Star Report, host Michael Patrick Leahy welcomed Representative John Rose (R-TN-06) to the newsmaker line to discuss the vote passed by Republicans in Congress to increase the debt limit contingent upon a cut in spending.
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Friday morning on The Tennessee Star Report, host Michael Patrick Leahy welcomed Bill Pascoe of Tea Party Patriots PAC to the newsmaker line to break down the bill proposed to increase the debt ceiling if spending is cut.
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U.S. Sen. Marsha Blackburn (R-TN) said she introduced across-the-board spending cuts on Monday as amendments to S. Amdt. 948 to H.R. 3055 for Fiscal Year 2020.
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by Robert Romano “I’d like you to come back with a 5 percent cut. Get rid of the fat. Get rid of the waste, and I’m sure you can do it.” That was President Donald Trump on Oct. 17 ordering his Cabinet secretaries to come up with plans to slash the federal budget. After a $779 billion deficit for Fiscal Year 2018 as the national debt has topped $21 trillion, something’s got to give. More than half of the increase in the deficit, $65 billion, came as 10-year treasuries interest rates have jumped from 2.2 percent in Sept. 2017 to about 3.2 percent today. In his prior budgets, Trump has called for $4.5 trillion of spending cuts, including repealing Obamacare. Now that the military and law enforcement were taken care of in the budget, with major spending increases, Trump said it would free up Congress to be more aggressive in cutting spending elsewhere. For this particular proposal, non-defense discretionary spending authority was about $572 billion for Fiscal Year 2018, according to the Office of Management and Budget. So, 5 percent off the top would amount to about $28 billion a year of cuts. Which raises the question, if the…
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