Seeking Alpha

Congress agrees on how to divide up $1.01T

  • House and Senate negotiators have agreed on how to allocate $1.01T in funding through Sept. 30 following Congressional approval of the budget guidelines in December.
  • The 1,582-page deal eases some automatic spending reductions by providing an additional $45B for military and domestic discretionary programs. Non-war spending will be $520.5B, with the armed force being able to avoid $22B in cuts.
  • The conflict in Afghanistan will receive $85.2B.
  • However, there's no increase in funding for Obamacare, while $63B in financing for the IMF was again delayed.
  • The bill prohibits the Postal Service from eliminating mail delivery on Saturday or shutting rural post offices.
  • GOP and Democrat leaders are confident that the bill will pass the House and the Senate.
  • Defense tickers: BA, LMT, GD, NOC, HON, BAESY, RTN, COL, HRS
Comments (23)
  • DougRk
    , contributor
    Comments (1565) | Send Message
     
    And such is the future of America from here out. How will politicians allocate borrowed money to fund our health, education, food, etc. Sad testament to the leftist nanny state we live in.
    14 Jan, 02:32 AM Reply Like
  • jrez
    , contributor
    Comments (304) | Send Message
     
    To fund the war for oil that the bush republicans started, you mean? That and Afghanistan is where the majority of our money has gone in recent years - trillions upon trillions of dollars. God forbid a poor little kid in our country has enough food to eat or can go to the doctor, though, right?
    14 Jan, 01:53 PM Reply Like
  • Rope a Dope
    , contributor
    Comments (564) | Send Message
     
    jrez, you forgot to mention that the vast majority of Democrats endorsed going to war.

     

    $16 trillion has been spent on the War on Poverty since the 1960's. The result? Record numbers of poor Americans. Maybe it's time Liberals chart another course.
    14 Jan, 02:53 PM Reply Like
  • mtthwburrell
    , contributor
    Comments (5) | Send Message
     
    Actually, many democrats were one issue voters in 08, that's how Obama won the primary. He voted against the war, Hillary voted for. By vast majority of democrats you obviously mean politicians, not the base.
    17 Jan, 08:34 AM Reply Like
  • Rope a Dope
    , contributor
    Comments (564) | Send Message
     
    Correct
    17 Jan, 08:48 AM Reply Like
  • jrez
    , contributor
    Comments (304) | Send Message
     
    Endorsed it because they were lied to by the bush administration.
    19 Jan, 12:30 PM Reply Like
  • jrez
    , contributor
    Comments (304) | Send Message
     
    Shutting down the war on poverty would mean getting rid of the republican party. The GOP's been the #1 source of poverty since the 60s, through their mission to redistribute the wealth upward.
    19 Jan, 12:32 PM Reply Like
  • Rope a Dope
    , contributor
    Comments (564) | Send Message
     
    That's hilarious.
    19 Jan, 12:40 PM Reply Like
  • JANFA
    , contributor
    Comments (76) | Send Message
     
    The conflict in Afghanistan will receive $85.2B. - What a waste!
    14 Jan, 03:11 AM Reply Like
  • WMARKW
    , contributor
    Comments (10397) | Send Message
     
    Exactly !!
    We are in the Poppy protection business.
    14 Jan, 03:15 AM Reply Like
  • User 195396
    , contributor
    Comments (369) | Send Message
     
    "Poppy protection business" is about the only reason we are still there that has any validity, however insane the situation is.
    14 Jan, 11:43 AM Reply Like
  • JANFA
    , contributor
    Comments (76) | Send Message
     
    The conflict in Afghanistan will receive $85.2B. What a waste!
    14 Jan, 03:22 AM Reply Like
  • WMARKW
    , contributor
    Comments (10397) | Send Message
     
    Janfa....you can say that again. It bears repeating.
    14 Jan, 04:01 AM Reply Like
  • Interesting Times
    , contributor
    Comments (11092) | Send Message
     
    WMARKW

     

    What do you think about that $85.2 B being spent in Afghanistan?? lol
    14 Jan, 04:12 AM Reply Like
  • Rope a Dope
    , contributor
    Comments (564) | Send Message
     
    Although the war in Afghanistan is a total waste of money, my greatest concern is the loss of American and coalition lives. Over 3,400 killed and 25,000 wounded with America bearing the brunt of those numbers.

     

    More than 2,300 Americans killed and 17,000 wounded over a wasteland that isn’t worth a sprained American ankle.
    14 Jan, 06:03 AM Reply Like
  • temuka
    , contributor
    Comment (1) | Send Message
     
    What a waste shows the strange american political system
    14 Jan, 06:20 AM Reply Like
  • WMARKW
    , contributor
    Comments (10397) | Send Message
     
    Someone tell me why the US forces in Afghanistan haven't shutdown poppy production - the place that produces 96% of world's poppies??
    14 Jan, 07:24 AM Reply Like
  • BlueOkie
    , contributor
    Comments (5391) | Send Message
     
    Afghanistan - we are either in for a nickel, in for a dime or we need to get out and let Allah sort it out. WE need growth programs not all this social welfare trash!. Let's cut 95% of EPA and stop worrying about bugs we are killing. Let's cut politicians benefits and tenure making them return to live under the laws they have passed.
    14 Jan, 10:11 AM Reply Like
  • theluckya
    , contributor
    Comments (3) | Send Message
     
    The war was completely just at its inception, but then became a morass. The social welfare system ditto. But we are all making money again! Lets create wealth, buoy the middle class and prosper. Without customers businesses dont survive. Without war we all do better except the oligarchic M.I.C. Complex that hijacked the Bush years. Obama, face it, is better for business. Wake up, CEO's the Democrats are business sheeps in wolves costumes. Vote Dem for better business.
    14 Jan, 09:54 PM Reply Like
  • Rope a Dope
    , contributor
    Comments (564) | Send Message
     
    Obama is better for business? No kidding?
    15 Jan, 05:07 AM Reply Like
  • BlueOkie
    , contributor
    Comments (5391) | Send Message
     
    Rope,

     

    Not Obama, Ben in the FED and now Janet will make you rich
    16 Jan, 05:26 PM Reply Like
  • Rope a Dope
    , contributor
    Comments (564) | Send Message
     
    BlueOkie, yes, QE is certainly putting money in my pocket now but I would trade immediate wealth for long term prosperity and stability any day of the week. We are beyond the point where we should be looking at why QE was needed in the first place, why some think it is still needed, and what danger it poses to our economic future if they don’t wind it down soon. I think the US banks have enough money parked at the Federal Reserve and regardless of the consequences, QE needs to end.

     

    It’s time to let the economy stand on its own. Perhaps if the Fed weren’t subsidizing the fiscal irresponsibility of the Federal Government, we’d see legislation that truly helped create jobs and prosperity.
    17 Jan, 05:29 AM Reply Like
  • BlueOkie
    , contributor
    Comments (5391) | Send Message
     
    We are creating more millionaires every day. 1 in 20 families has a million dollars or more in assets. That's over 6 million families. We are doing well. Stop reading all the press coverage about people on welfare.
    17 Jan, 04:08 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector