HR 710 will establish a national commission on fiscal responsibility and reform. This bill will shine a light on the need for fiscal reform. It also aligns with one of our legislative agenda’s here at MVA. We are extremely supportive of ways to improve fiscal responsibility, so that veteran benefits can be expanded, and we as a nation can take care of all our Veterans, without cutting from another veteran to help another veteran.
Total federal spending in 2021 was $6.82 trillion dollars with a total deficit of $2.77 trillion. https://fiscaldata.treasury.gov/americas-finance-guide/federal-spending/ Unfortunately, once Congress appropriates the money, via budget, omnibus bill, or continuing resolution, it loses control of the expenditures. Budget analysts in the Executive Branch retain a percentage normally in the 10-15 percent range for emergencies, unfunded requirements, and cost overruns. Approximately 6-8 weeks before the end of the fiscal year, this money is dumped on individual offices with orders to “spend it or lose it.” The fear is that if the money is not spent, Congress will cut future allocations. Little money is spent on mission essential or mission necessary items. Estimates are that 75% of the windfall is spent for nice to have items or simply wasted.
As part of the Commission, MVA recommends a GAO inquiry into the financial allocation process by the Executive Branch in the last two months of the fiscal year. Evaluate what allocations are for mission essential, mission necessary, mission relevant, and mission irrelevant and provide, by budget line item, a breakdown of allocations into these categories. Secure and review any funding documents or supplemental budget documents issued in the last two months of the fiscal year.
Please contact your elected officials and ask for their support.