Take a look at table 2 from this link.
cbo.gov
Look at the first two columns. It shows the ebb and flow of revenues and outlays as a percentage of GDP. It takes little study to see the trends and when the two are in or out of balance.
Few people understand the difference between "budget authority" and "outlays." Even fewer understand the meaning of 1-year money, 2-year money, no-year money, etc. For example, the Department of Energy (DOE) is funded, for the most part, with no-year money. No-year money is "spending authority" or "magic bucks" that can be spent until they are gone. Magic bucks might be authorized in 2002 but might not be spent until sometime in the distant future--say 2010. In the case of DOE, which has an annual authorization of about $19 billion, it carries about $10 to $15 billion in magic bucks from one year to another.
The Department of Defense (DoD) is funded with all types of money. They have plenty of magic bucks and I doubt if anyone can tell what is stashed there.
On the other hand, Congress can first authorize magic bucks and then "fence" the spending of magic bucks. For example, let's assume that an Armed Services Committee authorizes no-year magic bucks of $20 billion. Let's also assume that the Committee writes a requirement "the fence" into the authorizing legislation that requires DoD to create "The General's Fart Ensemble." The legislation further states that the magic bucks cannot be spent until the Ensemble can perform "Silent Night" by farting. That's it. The magic bucks are fenced, and until the Ensemble can fart to the tune of Silent Night, the magic bucks cannot be spent. |
