Search results
Results from the WOW.Com Content Network
For 2013 only, certain "security" funding such as homeland security and international affairs were cut in order to lessen the cuts to defense. [11] Federal unemployment benefits were extended for a year without a budget offset elsewhere, a cost of $30 billion. [3]
Components. Experts estimate that total spending on American military and non-military intelligence during the Cold War peaked at $71 billion (in 2013 dollars) in the late 1980s. By 1994 spending for the non-military National Intelligence Program (NIP) had declined to $43.4 billion. Fiscal 2013 intelligence spending exceeded the Cold War peak ...
The Sequestration Transparency Act of 2012 (Pub. L. 112-155) requires the president to submit a report to Congress on a potential sequestration which may be triggered by the failure of the "Super Committee" to propose and for Congress to enact, a plan to reduce the U.S. Federal Budget by $1.2 trillion as required by the Budget Control Act. [15]
In a world plagued by budget cuts, defense corporation Lockheed Martin (NYS: LMT) looks like a victim at first glance. As America's largest government contractor in 2011, Lockheed could face sales ...
The fiscal 2010 budget proposal brought the overseas contingency supplemental requests into the budget process, adding the $130 billion amount to the deficit. [48] The U.S. defense budget (excluding spending for the wars in Iraq and Afghanistan, Homeland Security, and Veteran's Affairs) is around 4% of GDP. [49]
In 2012, during the fiscal cliff, Obama overcame the sunset provisions and made the tax cuts permanent for single people earning less than $400,000 per year and couples making less than $450,000 per year, but did not stop the sunset provisions from applying to higher incomes, under the American Taxpayer Relief Act of 2012. Before the tax cuts ...
The Budget Control Act of 2011 (Pub. L.Tooltip Public Law (United States) 112–25 (text) (PDF), S. 365, 125 Stat. 240, enacted August 2, 2011) is a federal statute enacted by the 112th United States Congress and signed into law by US President Barack Obama on August 2, 2011. The Act brought conclusion to the 2011 US debt-ceiling crisis.
GDP. $16.582 trillion [ 5 ] Website. Office of Management and Budget. ‹ 2012. 2014 ›. The 2013 United States federal budget is the budget to fund government operations for the fiscal year 2013, which began on October 1, 2012, and ended on September 30, 2013. The original spending request was issued by President Barack Obama in February 2012.