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The 2011 United States federal budget was the budget to fund government operations for the fiscal year 2011. The budget was the subject of a spending request by President Barack Obama. [7] [8] The actual appropriations for Fiscal Year 2011 had to be authorized by the Congress before they could take effect, according to the U.S. budget process.
In 2011, ongoing political debate in the United States Congress about the appropriate level of government spending and its effect on the national debt and deficit reached a crisis centered on raising the debt ceiling, leading to the passage of the Budget Control Act of 2011.
The Budget Control Act of 2011 (Pub. L. 112–25 (text), S. 365, 125 Stat. 240, enacted August 2, 2011) is a federal statute enacted by the 112th United States Congress and signed into law by US President Barack Obama on August 2, 2011.
The nonpartisan Congressional Budget Office (CBO), the legislature's budget tabulator, projects a $1.15 trillion budget deficit for this year, fiscal 2011, and a $766 billion deficit for fiscal ...
A failure to pass a 2011 federal budget nearly led to a shutdown of non-essential government services on April 9, 2011, with the furlough of 800,000 government employees appearing imminent. [9] President Obama met Senate Majority Leader Harry Reid and House Speaker John Boehner in the days preceding the deadline but was unable to come to an ...
On August 2, 2011, Congress passed the Budget Control Act of 2011 as part of an agreement to resolve the debt-ceiling crisis. The Act provided for a Joint Select Committee on Deficit Reduction (the "super committee") to produce legislation by late November that would decrease the deficit by $1.2 trillion over ten years.
The Congressional Progressive Caucus (CPC) proposed "The People's Budget" in April 2011, which it claimed would balance the budget by 2021 while maintaining debt as a % GDP under 65%. It proposed reversing most of the Bush tax cuts; higher income tax rates on the wealthy and restoring the estate tax, investing in a jobs program, and reducing ...
The Joint Select Committee on Deficit Reduction, [1] colloquially referred to as the Supercommittee, was a joint select committee of the United States Congress, created by the Budget Control Act of 2011 on August 2, 2011. This act was intended to prevent the sovereign default that could have resulted from the 2011 United States debt-ceiling crisis.