StanCollender'sCapitalGainsandGames Washington, Wall Street and Everything in Between



fiscal 2011

Posted by Stan Collender

This article by Carl Hulse from Saturday's New York Times makes it sound as if the GOP refusal to agree to a full-year omnibus appropriation for 2011 during the lame duck session was a surprise.

It was a good story, but it was anything but news.

Posted by Stan Collender

This Associated Press story is creating a lot of unnecessary buzz in Washington.  In fact, the coverage may well be a total overreaction to a complete nonstory.

As reported by the AP, Office of Management and Budget Director Peter Orzag has told federal agencies and departments to prepare two possible fiscal 2011 budgets: one that holds spending flat and another that cuts spending by 5 percent.  That led the AP to say that the White House is planning a "budget freeze."

Here's the back story the AP didn't include.

1.  Almost all administrations ask agencies and departments to put together multiple budgets based on alternative scenarios like a 5 percent increase, a 5 percent decrease, and no growth.  So the fact that the Obama White House has asked for multiple options not only is no big deal and definitely not news.




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