Page 10 - Budgeting Process News Today

It let century old pipes collapse. >> it is not unusual to have the sinkholes directly related to incurring the debt for the incinerate. used the money from the incinerator bonds for other projects. how was he able to do that? >> by moving money around in different funds. i cant tell you what money he moved where other than he did. so for example if you want to start a museum, rather than going to city council and put $500,000 in the budget you issue bonds for an incinerator and take a portion...

It let century old pipes collapse. >> it is not unusual to have the sinkholes directly related to incurring the debt for the incinerate. used the money from the incinerator bonds for other projects. how was he able to do that? >> by moving money around in different funds. i cant tell you what money he moved where other than he did. so for example if you want to start a museum, rather than going to city council and put $500,000 in the budget you issue bonds for an incinerator and take a portion...

Collapse. >> it is not unusual to have the sinkholes directly related to incurring the debt for the incinerate. used the money from the incinerator bonds for other projects. how was he able to do that? >> by moving money around in different funds. i cant tell you what money he moved where other than he did. so for example if you want to start a museum, rather than going to city council and put $500,000 in the budget you issue bonds for an incinerator and take a portion to get money for a purpo...

Collapse. >> it is not unusual to have the sinkholes directly related to incurring the debt for the incinerate. used the money from the incinerator bonds for other projects. how was he able to do that? >> by moving money around in different funds. i cant tell you what money he moved where other than he did. so for example if you want to start a museum, rather than going to city council and put $500,000 in the budget you issue bonds for an incinerator and take a portion to get money for a purpo...

For administration costs while it let century old pipes collapse. >> it is not unusual to have the sinkholes directly related to incurring the debt for the incinerate. used the money from the incinerator bonds for other projects. how was he able to do that? >> by moving money around in different funds. i cant tell you what money he moved where other than he did. so for example if you want to start a museum, rather than going to city council and put $500,000 in the budget you issue bonds for an...

But he proposed $500,000. im surprised he would. i would propose zero. >> you have to start somewhere. >> how about steer owe? >> what we are doing, and this is from the work tom has done, hes done a great job to get the audit of the federal government. but we are starting to insert in appropriations bills a limitations of $20,000 before it needs to be posted quarterly, and if you do international conferences no more than 15 employees. from my standpoint as a business person, we would send peopl...

But he proposed $500,000. im surprised he would. i would propose zero. >> you have to start somewhere. >> how about steer owe? >> what we are doing, and this is from the work tom has done, hes done a great job to get the audit of the federal government. but we are starting to insert in appropriations bills a limitations of $20,000 before it needs to be posted quarterly, and if you do international conferences no more than 15 employees. from my standpoint as a business person, we would send peopl...

Make the situations go away. but ultimately what youre dealing with here is a european union in the eurozone where these members have gotten together under a common currency but they dont have a common budgeting process. and so therefore you can see greeks and italians running up huge debts. and germans and french, folks being liable for the damages that those debts are creating. thats a structural problem that ben bernankes not going to be able to solve sitting in washington, d.c. >> i want to ...

Budget 18%. compared to 2010. >> we are doing fewer new projects, we are using a larger proportion of our money to operate and maintain the infrastructure we are responsible for. just like these levees that are holding back the mississippi river. >> reporter: the corps says it will probably need to ask congress for more money to pay for the work it is doing now along the mississippi. it is used to doing that. in fact, critics say its projects are often too politicized, too dependent on earmarks....

All become ph.d.s in the budgeting process. lets bring in lex harrison. as wolf says, is this the conversation that we need to be having, the one weve been having all week or is this a distraction from our true and mighty fiscal problems? >> well, absolutely. the conversation has just begun as you guys said and it really is. its spending, its taxes, its medicare and social security. the ones weve had so far for 2011, yes, such small potatoes. it frames the debate. you said this is the week that ...