Last week the Commission had to decide what we should do with $7.1 million of anticipated unspent funding for this year.
Every year every federal agency has money that’s been appropriated but is unable to use as budgeted for a variety of reasons: a staffer’s salary is appropriated, but that staffer hasn’t been hired yet; a project is completed early or is behind schedule; the costs of a project were lower than expected, etc. When that happens, the agency is confronted with thinking up new ways to spend the money, or it can give the funds back to the U.S. Treasury.
Here at the CPSC, we had $7.1 million allocated for purposes that no longer needed that much money. I thought this would be a good chance to do what most Americans would want every agency to do and give the unspent money back.
The federal debt is over $13 trillion and this year’s deficit will exceed $1.4 trillion. And while $7.1 million won’t make up the difference, if every agency started to do the same, we could start to restore a balanced budget.
Unfortunately, I lost the vote 4-1 and the Commission is finding other ways (of course) to spend the money. I’d be interested in your thoughts on this …
For my official statement, click here
3 months ago