FY 2010 Budget Coming Next Week
The New York Times is reporting that President Obama will release his recommended budget for FY (Fiscal Year) 2010 next week. The 2010 fiscal year begins on October 1, 2009. Meanwhile, most federal agencies, including Social Security, are working under a Continuing Resolution (CR) for FY 2009 that freezes their expenditures at the previous fiscal year's rate. Social Security got a special appropriation of $500 million in the economic stimulus bill which helps a lot, but would still like to get a real budget for FY 2009. It is hard for the agency to plan in these circumstances.