How much a Constitutional Budget would cost?
So I got to wondering how much a Constitutional Budget would cost? The easy part is finding the Constitutional Budget items. It is Article 1, Section 8, of the delegated powers to Congress. Assigning a dollar figure to those items was the challenge. The numbers listed are the best available information I could find.
The latest summary budget information comes to us from Kimberly Amadeo from the website, The Balance.
“In fiscal year 2018, the federal budget is $4.268 trillion. Most of this (63 percent) pays for mandated benefits, such as Social Security, Medicare, and Medicaid. The U.S. government will receive $3.916 trillion in revenue. That creates a $352 billion deficit for October 1, 2017 through September 30, 2018. Spending breaks down into Mandatory ($2.696 trillion), Discretionary ($1.243 trillion) and Interest on the National Debt ($329 billion). (Source: “2018 Budget,” Office of Management and Budget, March 16, 2017. “Mid-Session Review Fiscal Year 2017,” OMB, July 15, 2016.)”
And now it’s my turn…