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Worsening Economic Conditions Threaten President Obama's Budget PrioritiesMarch 23, 2009—Beginning the week of March 23 and for the following week as well, the House and Senate will be crafting their respective Federal Fiscal Year 2010 Budget Resolutions and trying to get them passed. Congressional Budget Resolutions are a special variety of legislation that does not require the signature of the President, but provides a budget blueprint and general parameters for federal funding for a given fiscal year. The Budget Resolution does not itemize federal funding levels on a specific program-by-program basis. That is the job of the Appropriations Committees. President Obama released his FY 2010 Budget Request outline in February 2009, but will not unveil his detailed budget until sometime in April, 2009. The House and Senate Budget Committees are moving ahead anyway, to develop their own FY 2010 Budget Resolutions. Congress never takes formal action on a President’s Budget Request. Rather that document serves as a statement of a President’s fiscal and policy priorities. Because the U.S. economy has been rapidly worsening, late in the week of March 16 the Congressional Budget Office (CBO) updated economic figures for the nation compared to the data used by the President in his FY 2010 Budget outline. With the nation’s deficits and debt growing significantly, many in Congress, on a bipartisan basis, believe the funding assumptions and policy and program priorities put forward by the President will need to be trimmed back. The annual FY 2009 regular funding for federal education programs has been approved, and the President has signed into law the FY 2009 Omnibus Appropriations bill which incorporates the Labor, Health and Human Services, Education Appropriations bill for School Year 2009-10. More information | |||||
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