12/6/2023 0 Comments Star pupil strain reportElected officials should reject the budget gimmicks included in FY 2024 appropriations bills, make necessary cuts and eliminations across the federal government, and use rescissions to reduce the deficit rather than cushion agencies and bureaucrats.īritish universities are facing financial challenges as a result of stagnant tuition fees, a decline in domestic student numbers, and increasing competition from other countries. Congress has numerous policy options available to reduce the deficit, including targeting wasteful spending, corporate welfare, unnecessary handouts to state and local governments, economically disruptive subsidies, and safety net programs that incentivize broken homes. The FRA does not include firm spending cuts and would still leave substantial projected growth in the baseline. The FRA's claim to deficit reduction rests solely on the assumption of spending growth, as its spending caps are below baseline assumptions. The CBO's analysis would provide key details about rescissions and gimmicks and help identify the true amount of federal spending. It is urgent for Members of Congress to demand this publication. The Congressional Budget Office (CBO) should publish its detailed analysis of appropriations legislation to provide transparency and inform public policy analysis. These gimmicks include classifying non-defense discretionary spending as an "emergency" and rescinding unspent pandemic-related BA. The appropriations bills also contain other budget gimmicks that would increase discretionary budget authority and outlays, further adding to the federal deficit. Rescissions involve cutting budget authority (BA) from previously enacted legislation and repurposing it toward discretionary programs without counting the new BA toward spending caps. The House Appropriations Committee has included a record level of rescissions in its fiscal year (FY) 2024 spending bills, utilizing this budgetary tool to add spending within appropriations caps. The findings have important implications for policymakers seeking to address racial disparities and promote economic equity. The study also reveals that access to education can significantly improve the long-term economic outcomes for Black families, even for descendants of those who lived under the most restrictive Jim Crow regimes. Access to education was a crucial factor, as the quality of Black schools varied depending on the intensity of Jim Crow regimes in different states. The study also highlights the impact of Jim Crow laws, which aimed to limit Black economic progress by segregating all areas of life and disenfranchising Black voters. These disparities, known as "Free-Enslaved gaps," account for 20 to 70 percent of the Black-White gaps in economic indicators. The researchers found that Black families whose ancestors were enslaved until the Civil War have significantly lower income, education, and wealth today compared to those whose ancestors were free before the war. The study examines data from millions of records spanning 150 years to assess the economic status of Black families and the institutional factors their ancestors encountered. A recent working paper by Lukas Althoff and Hugo Reichardt explores the economic impact of slavery and Jim Crow laws on Black Americans.
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