We couldnt have had it in a more to say a more formal setting because it may been better attended. Im not sure any hearing we have had would be any more important in the spirit her witnesses will be the director of the Congressional Budget Office and jeans are darl who is the comptroller general of the United States in the head of the u. S. Government Accountability Office. With that i will make my Opening Statement and turned to Maggie Hassan my Ranking Member and then i think Ranking Member wise and for the entire committee for statement you would like to make as well. Again thank you all for being here. Im grateful to all who are joining us via the internet. Today we will address the topic a with refer to shy away from addressing her nations run away debt and deficit could when it comes to our Health Care Choices arent so easy. We exercise we want to relax and eat healthily when we preferred a splurge. These promote health and fitness and is worthwhile for her overall wellbeing. Sim
The Senate Finance subcommittee on fiscal responsibility on Economic Growth is a virtual hearing on the fiscal outlook and i thank you all for participating. I thank you all for participating and i think its going to be good and im sorry we couldnt have had it in a more to say a more formal setting because it may been better attended. Im not sure any hearing we have had would be any more important in the spirit her witnesses will be the director of the Congressional Budget Office and jeans are darl who is the comptroller general of the United States in the head of the u. S. Government Accountability Office. With that i will make my Opening Statement and turned to Maggie Hassan my Ranking Member and then i think Ranking Member wise and for the entire committee for statement you would like to make as well. Again thank you all for being here. Im grateful to all who are joining us via the internet. Today we will address the topic a with refer to shy away from addressing her nations run awa
The Senate Finance subcommittee on fiscal responsibility on Economic Growth is a virtual hearing on the fiscal outlook and i thank you all for participating. I thank you all for participating and i think its going to be good and im sorry we couldnt have had it in a more to say a more formal setting because it may been better attended. Im not sure any hearing we have had would be any more important in the spirit her witnesses will be the director of the Congressional Budget Office and jeans are darl who is the comptroller general of the United States in the head of the u. S. Government Accountability Office. With that i will make my Opening Statement and turned to Maggie Hassan my Ranking Member and then i think Ranking Member wise and for the entire committee for statement you would like to make as well. Again thank you all for being here. Im grateful to all who are joining us via the internet. Today we will address the topic a with refer to shy away from addressing her nations run awa
Revenues of those are the revenues the mayor and the board of supervisors have to allocate and this is the projection from the citys fiveyear Financial Plan and you can see i have circled down here that over the four years of this projection theres an average growth rate of about 3. 5 and so we can change that or tweak that in terms of our growth assumption but if we use that number we should be growing our support by no more than about 3. 5 if were not going to continue to exacerbate the citys deficit. So what that translates to is you take this 813 which is where we should end this budget process and grow it by 3. 5 and end up at 842 and the same for the next year and the next year. So if our general fund stays within that constraints, we wont be cutting services, but well still be growing but we wont be growing at a rate that is eating in to the increasing the deficit and eat north to everybody eels else share of the general fund. And then lastly, what can you do is if you take that
Pay for general city responsibilities which is things like Retiree Health subsidiaries , Health Service Administration Costs and those dollars that we must spend keep City Services running and were obligated do not have a policy choice to make to reduce them without other action and that leaves about 2. 5 billion that is available that is truly a matter of policy addition correction so in that light our 715 million is much larger share puts us at about 30 of the total discretionary dollars that are available to allocate and so that is a big portion its a much bigger portion than when you look at the higher level numbers and that is one of the reasons that our budget is a major factor for the citys general Fund Balancing plan and vice versa when the general fund is in trouble were in trouble and when were in trouble the general fund is in trouble so thats why were always working very carefully to coordinate with Mayors Office and Controllers Office on our Financial Planning so that it a