One Reason That $1.1 Trillion is Not So Much

The Congress just agreed on $1.1 trillion in federal spending. But let’s look a bit more closely… Each year, I give my class a federal budget graph and ask them to identify the relative size of 17 main spending categories.…

Fiscal Cliff Notes

There might be 2 ways to look at the fiscal cliff. Specifically, we can focus on tax increases and spending cuts: Tax Increases Bush era tax cuts: expire 2010-2011 2% payroll tax cut: expire Affordable Care Act taxes: kick in…

Big Bird’s Issues

All the talk about Big Bird and federal funding is really about 2 much bigger issues. 1. Discretionary Spending With proposed spending in the Obama 2013 budget at 3.7 trillion dollars, a tiny proportion–between 1 and 2 percent, goes to the…