Two Year Budget.

[m1ashooter]

How can Congress sign a two year budget? I thought the president submitted a year budget to Congress. They then had a wack at it and sent it him to sign!.

[Vern Humphrey]

US Constitution, Article I, Section 9:

Clause 12: To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years;

Clearly a two-year budget is constitutional.

[togor]

Is it an actual 2-year budget or just some Gizmo that kicks the can further down the road? I confess to not following it in detail.

[Art]

From what I understand it's both. It's an actual two year budget but it "kicks the can down the road" by continuing to spend more money than we've got.

[togor]

Deficit is a relative measure, the difference between outflows and inflows. Inflows are reduced with the tax law, and outflows are increased with this latest deal, with military and disasters getting big bumps. It is pretty straightforward what is happening.

[Roadkingtrax]

I think the dream is that supply side will catch up with the deficit. It wont even cover the interest unless there is some sustainable growth.