The Committee has raised some issues concerning a Responsible Federal Budget and The Balance on the FY 2020 proposed Federal Budget. The Committee stated that the budget would lead to substantial slow growth of debt. Initially, the budget would rise from 78 to 82 % and then reduce to 71 % by 2019. Revenues in GDP share would be expected to decrease and that would result in a fall in spending from 20.3 in 2019 to 18.7 % in 2019 (Committee for a Responsible Federal Budget, 2019). When the GDP is affected, it will affect the growth of other factors such as Medicare, Medicaid, and welfare-related programs.
Congress can be used in controlling discretionary spending. I think that the Congress plan on striking a balance that will support adequate spending and does not increase the existing debt is the best way to go. When the current spending caps are extended, it would be expensive, but it would be worse if the current laws were to be maintained (Committee for a Responsible Federal Budget, 2019). Setting up new caps should be done as that will smooth the transition from the current spending levels to better ones, which will be easier to pay for. Offsetting the cost of the caps adjustments should be done with increases in revenue or reduction in spending.
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As the president, I would implement fines on certain issues such as failure to follow the law or not filling for taxes. The amount collected would be used for funding discretionary spending. In that way, state spending would be reduced.
The information provided would be essential to my practice as a Human Services professional as it will help establish the reasons the increase in cost in healthcare has been done. It will help in budgeting and planning on available resources and ensure that the changes in cost do not affect the quality of services delivered.
References
Committee for a Responsible Federal Budget. (2019, April 02). Analysis of the President's FY 2020 Budget. Retrieved June 21, 2019, from http://www.crfb.org/papers/analysis-presidents-fy-2020-budget
Committee for a Responsible Federal Budget. (2019, April 10). Charting a Responsible Path for Discretionary Spending. Retrieved June 21, 2019, from http://www.crfb.org/papers/charting-responsible-path-discretionary-spending
