Taxpayers for Common Sense president Steve Ellis’ statement on the Fiscal Year 2024 President’s Budget Request.

The President’s budget request for fiscal year 2024 is out – sort of. The topline parameters of the budget have been released but the details have not. So we only know what the Biden Administration wants us to know. Considering that, under law, this release is a month late it would have been better for all of it to come out at the same time.

From what we have seen the President is proposing an increase in defense spending, up to $3 trillion in deficit reduction, and proposals to put Medicare on sounder financial footing. Taking each of these in turn:

The increase in defense spending is hardly justified. It seems to just go up and up and even with a proposed increase, many lawmakers are going to push to add to the total just to sound tougher. More is not strategy, taxpayers deserve to know the strategic justification of the increases and what offsets are being ignored.

On the deficit reduction figure, the Congressional Budget Office has estimated that the cumulative deficits over the next decade will total $22 trillion. While we welcome any amount of deficit reduction, this is hardly a dent in the total. Furthermore, the budget appears to rely on tax increase measures that have not been taken up by Democratic congresses – with the House now under Republican control it is hard to see these particular proposals going anywhere. In divided government large tax increase proposals from Democrats and deep non-defense discretionary spending cuts by Republicans are obvious non-starters that don’t help deal with the nation’s very real fiscal challenges.

Finally, we applaud the White House for acknowledging something needs to be done to shore up Medicare before costs overtake revenue. TCS is eager for policymakers to have the debate on how to manage both Medicare and Social Security, because not doing anything as they ramble toward insolvency is legislative malpractice.

We await to hear more details about the budget and are eager to work with lawmakers in the legislative process, particularly in the House with its promise of a return to regular order.

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TIMELINE

March 15, 2023

Our Take: Navy Looks to “Divest to Invest” in Shipbuilding

March 14, 2023

Analysis: Space Force Spending Request

Analysis: National Nuclear Security Administration and Department of Energy Cleanup

Analysis: Budget Request for the Department of Homeland Security

March 13, 2023

Analysis: National Defense Topline (Discretionary and Mandatory) is North of $900 billion (UPDATED March 14, 2023)

Our Take: F-35 Spending Flies High

March 10, 2023

Analysis: Deficit

Our Take: Mediscare

Our Take: Third Time, Not a Charm: No Farm Subsidy or Crop Insurance Cuts in FY24 Budget

Analysis: Underselling Costs in the Corps of Engineers Budget

March 9, 2023

Our Take: Backpedaling on Hardrock Reform

Analysis: Abandoned Well Clean Up Included in Budget Request

Analysis: Wildfire Messaging Focuses on Prevention, Mitigation, and Workforce Investments

Our Take: More on International Tax Havens

Analysis: National Defense Spending Jigsaw Puzzle

Analysis: Recommitting to Cutting Broader Fossil Fuel Tax Breaks

Analysis: Leave No Agency Behind (In Reality)

Analysis: Net Interest

Our Take: Missing Details in a Piecemeal Budget

March 8, 2023

Weekly Wastebasket: Budget, Budget

March 7, 2023

Podcast: Budget Watchdog, All Federal — Ep. 41: Budget, Oversight and Transparency

March 3, 2023

Weekly Wastebasket: Budget Oversight is Uncommon Work