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Federal Government
Total Public Oustanding Federal Debt As Of August 15: $17.67 Trillion PDF Print E-mail
Federal Government
By Administrator   
Monday, 18 August 2014 15:09

RALEIGH, (SGRToday.com) - Following is data on federal government debt and spending, which shows total outstanding debt at $17,678,983,000,000.

 
The debt is a flash point for Election 2014, as fiscal conservatives in the Republican Party continue to push for spending cuts, while progressive Democrats align themselves with President Obama, who continues to propose additional spending. 
 
Other federal data of interest can be found at http://catalog.data.gov/dataset
Last Updated on Monday, 18 August 2014 15:10
 
BLS: Producer Price Index Rose 0.1 Percent In July PDF Print E-mail
Federal Government
By Administrator   
Friday, 15 August 2014 12:49

RALEIGH, (SGRToday.com) - The Bureau of Labor Statistics on Friday released the producer price index detail for July 2014.

 
The Producer Price Index for final demand rose 0.1 percent in July, seasonally adjusted, the agency said. This increase followed a 0.4-percent advance in June and a 0.2-percent decline in May. 
 
On an unadjusted basis, the index for final demand climbed 1.7 
percent for the 12 months ended in July, according to a news release.
 
In July, the 0.1-percent increase in final demand prices can be traced to the index for final demand services, which also rose 0.1 percent. 
 
Prices for final demand goods were unchanged. 
Last Updated on Friday, 15 August 2014 12:50
 
USDA Seeks Grants Applicants To Increase Economic Opportunity And Improve Quality of Life In Rural Areas PDF Print E-mail
Federal Government
By Administrator   
Thursday, 14 August 2014 05:23

RALEIGH, (SGRToday.com) - Low-income rural communities, nonprofits, and federally recognized tribes are being encouraged by the federal government to apply for grants to carry out housing and economic development projects.

 
U.S. Agriculture Secretary Tom Vilsack announced the grant application process this week.
 
"Many rural nonprofits often need capital and technical assistance to carry out their missions," Vilsack said in a statement. "These grants will provide both of these components through local and regional organizations that are experts at delivering such services."
 
USDA is making nearly $6 million available to qualified organizations under the Rural Community Development Initiative (RCDI).
 
Recipients must be non-profit organizations, low-income rural communities, or federally recognized tribes. Intermediary organizations are required to provide matching funds at least equal to the RCDI grant. The grants do not go directly to business recipients but rather through qualified intermediaries.
 
The deadline for submitting RCDI applications is November 12, 2014. 
Last Updated on Thursday, 14 August 2014 05:23
 
CBO: U.S. Budget Deficit To Fall In 2014/2015 And Then Rise Again PDF Print E-mail
Federal Government
By Administrator   
Tuesday, 12 August 2014 15:20

WASHINGTON (AP) — The federal government ran a lower deficit this July than a year ago, keeping it on course to record the lowest deficit in six years.

 
The July deficit was $94.6 billion, an improvement of 3.1 percent from a year ago, the Treasury Department reported Tuesday in its monthly budget statement.
 
For the first 10 months of this budget year, the deficit totals $460.5 billion, down 24.2 percent from the same period a year ago.
 
The Congressional Budget Office expects this year's deficit to total around $500 billion, down from $680.2 billion last year. That would be the lowest deficit since an imbalance of $458.6 billion in 2008, which was a record at the time. The Great Recession and efforts to deal with the financial crisis sent deficits above $1 trillion for four straight years.
 
The July imbalance followed a $70.5 billion surplus in June, a month when government coffers are swelled by quarterly tax payments. But without the quarterly payments, the government ran a deficit in July, a month when it has recorded deficits in 58 of the last 60 years.
 
The yearly deficit peaked at $1.4 trillion in 2009 and remained above $1 trillion for each of the next three years, finally falling to $680.2 billion last year.
 
CBO projects the deficit will fall to $469 billion in 2015 before starting to rise again, topping $1 trillion annually starting in 2023. Spending on the government's major benefit programs, including Social Security and Medicare, will drive those increases as more baby boomers retire.
 
For the first 10 months of the current budget year, which began in October, government revenue totals $2.47 trillion, up 8 percent from the same period a year ago, reflecting a stronger economy which has boosted employment and led to rising income tax revenues and higher corporate tax payments.
 
With two months left in the current budget year, government spending is up 1.2 percent to $2.93 trillion, compared to a year ago, reflecting government efforts to restrain outlays in an effort to get control of the budget deficits.
 
Republicans have accused President Barack Obama of failing to propose significant cuts to reduce soaring entitlement costs. Democrats counter that Republicans would rather impose sharp cuts on needed government programs than impose higher taxes on the wealthy.
 
Neither side is expected to make major concessions in this congressional election year. But the budget wars of the past three years have subsided at least for a brief time. An agreement was reached in December on the broad outlines for spending over the next two years. The agreement will allow Washington to avoid the gridlock that culminated in October's 16-day partial shutdown of the government.
 
The budget cease-fire also includes legislation that suspended the government's borrowing limit through March 15 of next year. That puts off another battle over raising the debt ceiling until a new Congress takes office in January.
 
 
Last Updated on Tuesday, 12 August 2014 15:23
 
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