Continuing Resolution. House Joint Resolution 117 would provide continuing appropriations for the federal government from October 1, 2012 through March 27, 2013. This would amount to an annualized rate of $1.047 trillion in “discretionary” spending for regular appropriations, and would include a 0.6 percent increase in funding for most federal programs and agencies. This continuing resolution would also provide nearly $100 billion in war funding and $6.4 billion in advance disaster relief funds.
To put this appropriations bill into perspective, consider what the Congressional Budget Office reported on August 22, 2012: “For fiscal year 2012 (which ends on September 30), the federal budget deficit will total $1.1 trillion, CBO estimates, marking the fourth year in a row with a deficit of more than $1 trillion.” This deficit is based on the CBO’s estimates of $2.435 trillion in federal revenue and $3.563 trillion in federal outlays for fiscal 2012. Therefore, 32 percent of every federal dollar spent in 2012 had to be borrowed. For 2011, 2010, and 2009 the shortfall has been 36, 37, and 40 percent respectively.
The House passed H. J. Res. 117 on September 13, 2012 by a vote of 329 to 91 (Roll Call 579). We have assigned pluses to the nays because passage of this mammoth continuing resolution provided a way for Congress to perpetuate its fiscally irresponsible, unconstitutional spending habits with a minimum of accountability to its constituents.
