On the recordJanuary 26, 2010
Last year Federal agencies ended the fiscal year with $657 billion in unobligated balances. There is no question a great deal of that is associated with the war efforts and other things, but according to OMB and CBO, approximately $100 billion of that has been sitting for 2 years or longer, never having been obligated for what we have directed it to. So we have $100 billion sitting out there that the agencies have not been able to spend. Obviously, if they haven't been able to spend it in the last 2 years, it is not a priority. If, in fact, we rescind that money to the Treasury, we will cut our deficit $100 billion, and then we can reappropriate what is necessary for this year. The rule in the Federal Government is after 2 years it is supposed to go back to the Treasury anyway, which is not being enforced for everybody except the Treasury Department. They are under that obligation. So here is an opportunity--it doesn't affect anything because the money hasn't been obligated--to put it back in and start over and reprioritize.
