2010 United States Federal Budget
The United States Federal Budget for Fiscal Year 2010, titled A New Era of Responsibility: Renewing America's Promise, is a spending request by President Barack Obama to fund government operations for October 2009–September 2010. Figures shown in the spending request do not reflect the actual appropriations for Fiscal Year 2010, which must be authorized by Congress.
The subsequent 2010 Financial Report of the United States Government, reporting on the implementation of the 2010 Congressionally approved Budget, shows a net operating cost of $2,080 billion, although since this includes accounting provisions (estimates of future liabilities), the cash rather than accruals deficit is $1,294 billion. According to the Government Accountability Office, the 'accrual deficit provides more information on the longer-term implications of the government's annual operations'. Gross costs rose 20% from $3,736 billion in 2009 to $4,472 billion ($3,552 billion budgeted), while total taxes and other revenues rose 1% from $2,198 billion to $2,217 billion. The Government Accountability Office was unable to provide an audit opinion on the 2010 financial statements due to 'widespread material internal control weaknesses, significant uncertainties, and other limitations', although it noted that significant progress had been made. The GAO cited as the principal obstacle to its provision of an audit opinion 'serious financial management problems at the Department of Defense that made its financial statements unauditable'. The GAO identified during its audit work an estimated $125.4 billion of 'improper payments'. Thirteen of the twenty-four Government Agency Heads either qualified or withheld their assurance statements.
Read more about 2010 United States Federal Budget: Total Spending, Deficit, Debt Increases, Causes of Change in CBO Forecasts
Famous quotes containing the words united, states, federal and/or budget:
“I have ever deemed it fundamental for the United States never to take active part in the quarrels of Europe. Their political interests are entirely distinct from ours. Their mutual jealousies, their balance of power, their complicated alliances, their forms and principles of government, are all foreign to us. They are nations of eternal war.”
—Thomas Jefferson (1743–1826)
“I cannot say what poetry is; I know that our sufferings and our concentrated joy, our states of plunging far and dark and turning to come back to the world—so that the moment of intense turning seems still and universal—all are here, in a music like the music of our time, like the hero and like the anonymous forgotten; and there is an exchange here in which our lives are met, and created.”
—Muriel Rukeyser (1913–1980)
“There are always those who are willing to surrender local self-government and turn over their affairs to some national authority in exchange for a payment of money out of the Federal Treasury. Whenever they find some abuse needs correction in their neighborhood, instead of applying the remedy themselves they seek to have a tribunal sent on from Washington to discharge their duties for them, regardless of the fact that in accepting such supervision they are bartering away their freedom.”
—Calvin Coolidge (1872–1933)
“A budget takes the fun out of money.”
—Mason Cooley (b. 1927)