Following a “use it or lose it” approach to the federal budget, agencies raced to use up their remaining annual budgets before the end of September in order to protect future funding levels, writes Adam Andrzejewski of OpenTheBooks.com. Total spending for the last week of the 2017 fiscal year hit $11 billion. President Trump's office spent $21.8 million, up from the $6 million President Obama's office spent to end 2016.
From Forbes:
Read Full Article »In the midst of the government's year-end spending spree, Senator Rand Paul (R-KY) introduced the Bonuses for Cost-Cutters Act to curb “use it or lose it” spending. Paul's bill would expand current law to pay bonus happy bureaucrats who identify unneeded or surplus funds and redirect 90 percent of those savings to deficit reduction.
The private-sector uses zero-based budgeting - where all expenses need to be justified from the ground up and every function within an organization is audited for cost. As a businessman, the president should know this.
