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As Governor of New York, Franklin D. Roosevelt had campaigned for the Presidency, in part, on a pledge to balance the federal budget. [4] [5] On March 10, 1933, six days after his inauguration, Roosevelt submitted legislation to Congress which would cut $500 million ($8.181 billion in 2009 dollars) from the $3.6 billion federal budget by eliminating government agencies, reducing the pay of ...
The National Commission on Fiscal Responsibility and Reform (often called Simpson–Bowles or Bowles–Simpson from the names of co-chairs Alan Simpson and Erskine Bowles; or NCFRR) was a bipartisan Presidential Commission on deficit reduction, [1] created in 2010 by President Barack Obama to identify "policies to improve the fiscal situation in the medium term and to achieve fiscal ...
substantially reducing federal debt, and; administering government spending and cuts. Gore presented the National Performance Review on September 7, 1993. Gore cited the long-term goal to "change the very culture of the federal government," and designated "optimism" and "effective communication" as the keys to success. [11]
In 2011, sequestration was used in the Budget Control Act of 2011 (Pub. L. 112-25) as a tool in federal budget control. [2] This 2011 act authorized an increase in the debt ceiling in exchange for $2.4 trillion in deficit reduction over the following ten years.
The cyclical theory refers to a model used by historians Arthur M. Schlesinger Sr. and Arthur M. Schlesinger Jr. to explain the fluctuations in politics throughout American history. [1] [2] In this theory, the United States's national mood alternates between liberalism and conservatism. Each phase has characteristic features, and each phase is ...
The Biden campaign on Thursday denounced the claim and noted that the group is the same one pushing Project 2025, a nearly 1,000-page blueprint for dismantling many parts of the federal government ...
Executive Order 12866 in the United States, issued by President Clinton in 1993, requires a cost–benefit analysis for any new regulation that is "economically significant", which is defined as having "an annual effect on the economy of $100 million or more or adversely affect[ing] in a material way the economy, a sector of the economy, productivity, competition, [or] jobs," or creating an ...
On August 2, 2011, President Obama signed the Budget Control Act of 2011 as part of an agreement with Congress to resolve the debt-ceiling crisis.The Act provided for a Joint Select Committee on Deficit Reduction (the "super committee") to produce legislation by late November that would decrease the deficit by $1.2 trillion over ten years.