The House Appropriations Committee is meeting today to markup the Fiscal Year (FY) 2011 appropriations bill that covers Social Security. FY 2011 begins on October 1, 2010. It is most unlikely that a bill can be passed and signed by the President before the beginning of FY 2011. It may be well into calendar year 2011 before this happens.
The "Chairman's Mark" is the starting point for the markup process. Chairman David Obey's "mark" is $12,485 million, the same as the Administration's appropriation request for Social Security. That represents an 8% increase over Social Security's regular FY 2010 appropriation. However, this is misleading since Social Security got to spend a lot of money in FY 2009 and FY 2010 that was part of the economic stimulus package rather than Social Security's base budget. In terms of money that could be used for operational expenses, that money is about gone. Things are not going to be getting any better at Social Security even if the appropriation passes as proposed. Should Republicans gain control of either house of Congress after the November election, Social Security may be plunged back into a new budget abyss.
I wonder whether Michael Astrue would be happy or sad to see Republicans take control of the House of Representatives.
The "Chairman's Mark" is the starting point for the markup process. Chairman David Obey's "mark" is $12,485 million, the same as the Administration's appropriation request for Social Security. That represents an 8% increase over Social Security's regular FY 2010 appropriation. However, this is misleading since Social Security got to spend a lot of money in FY 2009 and FY 2010 that was part of the economic stimulus package rather than Social Security's base budget. In terms of money that could be used for operational expenses, that money is about gone. Things are not going to be getting any better at Social Security even if the appropriation passes as proposed. Should Republicans gain control of either house of Congress after the November election, Social Security may be plunged back into a new budget abyss.
I wonder whether Michael Astrue would be happy or sad to see Republicans take control of the House of Representatives.
As a long time employee, I don't get the sense that Mr Astrue has much affection for the Agency nor much respect for government employees. If a Republican administration crippled the Agency, I doubt he would shed any tears
ReplyDeleteAnd I don't see any difference with the Democrats running things. Just the nornal cyclical changes in staffing, up and down around the mid-60 thousands. Nothing will change, and politics will proceed as usual. The fact that Dodd and Frank are the poster boys for the FinReg bill tells you all you need to know about the current state of the US government.
ReplyDeleteWonder what will happen when Obey retires at the end of this term? Who will take up the mantle?
ReplyDeleteWell, A#3, that's the 2.5 Trillion dollar question. Congress shows every inclination to avoid cashing the Trust Fund's special-issue Treasury bonds because that would require payments from general revenues. And, you just can't raise income taxes, you know.
ReplyDeleteTwo wars to pay for? Borrow the money from China and blame SS for the national debt. Then, refuse to redeem the TF bonds, and reduce SS benefits because we "can't afford unsustainable entitlements". Delightful people we have in Congress, I must say. Obey's replacement matters a great deal. Sure would be nice to get lucky but there are no assurances on that score. Nancy Ortiz