We are now beginning to see the results of the recent years of fiscal irresponsibility showing up. Having wasted money, we now have to cut back on needed spending. For example, the Bureau of Economic Analysis has announced that it is cutting back on certain statistical programs, including the work on the R&D satellite account. I've mentioned that statistical program in at least three earlier postings.
Two stories in today's Washington Post also emphasize the general problem. First, GAO is releasing a report on how the Federal Protective Service is cutting back on security patrols. The second story talks about the $350 million in deferred maintenance work needed on the National Mall.
These may be minor points. But they illustrate the budgetary bind we are in. Last year, Congress and the President came together to enact the America COMPETES Act. It was never funded.
Just when we need to be investing in the infrastructure -- physical and intellectual -- to compete in the I-Cubed Economy, we don't even have the money for routine maintenance and operations.
Leave a comment