Shows & Panels
Shows & Panels
- The 2014 Big Picture on Cyber Security
- AFCEA Answers
- American Readiness: Renewable Power and Efficiency Technologies
- Ask the CIO
- Building the Hybrid Cloud
- Connected Government: How to Build and Procure Network Services for the Future
- Continuing Diagnostics and Mitigation: Discussion of Progress and Next Steps
- Federal Executive Forum
- Federal News Radio's National Cyber Security Awareness Month Special Panel Discussion
- Federal Tech Talk
- The Future of Government Data Centers
- The Future of IT: How CIOs Can Enable the Service-Oriented Enterprise
- Government Perspectives on Mobility and the Cloud
- The Intersection: Where Technology Meets Transformation
- Maximizing ROI Through Data Center Consolidation
- Mitigating Insider Threats in Virtual & Cloud Environments
- Modern Mission Critical Series
- The New Generation of Database
- Reimagining the Next Generation of Government
- Targeting Advanced Threats: Proven Methods from Detection through Remediation
- Transformative Technology: Desktop Virtualization in Government
- The Truth About IT Opex and Software Defined Networking
- Air Traffic Management Transformation Report
- Cloud First Report
- General Dynamics IT Enterprise Center
- Gov Cloud Minute
- Government in Technology Series
- Homeland Security Cybersecurity Market Report
- National Cybersecurity Awareness Month
- Technology Insights
- The Cyber Security Report
- The Next Generation Cyber Security Experts
Shows & Panels
Shakeup at GSA
On Monday, April 2, 2012, General Services Administration chief Martha Johnson stepped down from her post after firing Bob Peck, the commissioner of the Public Buildings Service, and GSA adviser Stephen Leeds. The shakeup in the administration came on the heels of an inspector general report that detailed excessive spending by the agency at a conference in 2010. Read Federal News Radio's full coverage of the Shakeup at GSA.
Analysis: GSA scandal detracts from bigger issue - budget deficit
Tuesday - 4/10/2012, 10:52am EDT
The former director of the Congressional Budget Office is sounding an urgent message to Congress: It's time to make big changes to curb the $1 trillion-plus — and growing — deficit.
"It's simply a matter of arithmetic that the United States cannot continue on its current course," said Doug Holtz-Eakin, the former CBO director and now president of the think tank American Action Forum.
The federal debt is now larger than the size of the economy, and countries in this situation often see a growth slowdown, he said. The United States could "run into a Greek- or Portugal-style crisis," he said in an interview with The Federal Drive with Tom Temin and Emily Kopp.
The $820,000 conference spending scandal at the General Services Administration — and all the attention to it — detracts from the news last week that the federal government had a budget deficit of nearly $780 billion in the first half of fiscal 2012 alone, according to the latest CBO report.
The public and congressional focus on GSA is "both sad but also business as usual," Holtz-Eakin said. "It's easy to point to the GSA scandal and make a fuss about it ... but it doesn't really get at the core of our nation's financial problems."
Last month, CBO projected the deficit would reach $1.2 trillion by the end of fiscal 2012 if no significant spending changes were made. This means the deficit will be more than $1 trillion for the fourth straight year, Holtz-Eakin said. He added that it's typical for the first half of the fiscal year deficit to have a larger deficit because most revenues come in later in the fiscal year. The projections will be revised in August, taking into account revenues and tax returns, he said.
For agencies' financial managers, the update on the deficit projections suggests agencies should expect even tighter budgets for next year. "The budgetary pressures are real and they're not getting smaller — they're getting larger," he said.
But Holz-Eakin acknowledged it's unlikely Congress will heed his message anytime soon.
"Most observers of the Washington scene would expect very little substantively to get done this election year, but really are counting on next year for the year when the nation's finances take a sharp turn for the better," he said.