- Monthly Budget Review, May 2009 – Based on the Monthly Treasury Statement for March and the Daily Treasury Statements for April: “The federal government incurred a deficit of close to $800 billion for the first seven months of fiscal year 2009, CBO estimates$646 billion more than the deficit recorded through April 2008. That estimate includes outlays for the Troubled Asset Relief Program (TARP) measured on a net-present-value basis (adjusted for market risk), consistent with statutory requirements and with the approach used in the Presidents budget request for fiscal year 2010, which was transmitted today. On a present-value basis, CBO estimates that outlays for the TARP were $116 billion through April.”
- Financing Federal Aviation Programs, May 7, 2009 – Testimony before the Committee on Ways and Means, U.S. House of Representatives: “In reauthorizing activities of the FAA, particularly modernizing and operating the air traffic control system, the Congress faces a decision about how to split the costs
between users of the agencys services and taxpayers. During recent years, about 75 percent to 85 percent of funding for the FAA has come from users of the air traffic control system through various taxes, while the remaining amount has come from the general fund of the Treasury.” - The Distribution of Revenues from a Cap-and-Trade Program for CO2 Emissions, May 7, 2009 – Testimony before Committee on Finance, United States Senate: “Under a cap-and-trade program, consumers would ultimately bear most of the costs of emission reductions. Firms that used emission allowances for CO2 would generally pass along to consumers the cost of using those allowances in the form of
higher prices for their productsregardless of whether the government sold emission allowances or gave them away. Such price increases would be essential to the success of a cap-and-trade program because they would be the most important mechanism through which businesses and households were encouraged to make investments and behavioral changes that reduced CO2 emissions. see also related postings on climate change].
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