Director’s Desk: May 16, 2013
Kenneth Gold | May 16, 2013
More good news bad news: Unlike this year, the sequesters scheduled for FY14 to FY21 will not cut spending across the board, but simply impose caps on discretionary spending, which ought to allow agencies to make more rational budget decisions. The bad news is that by making the cuts more manageable, it’s less likely to generate the kind of outrage that results from cutting air traffic controllers or meat inspectors. And unless major changes are made in entitlement programs, CBO projects that by 2023 mandatory spending including interest on the debt will increase from 66% of the federal budget to 76%, leaving only 24% of the budget for discretionary spending.