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The article focuses on budget sequestration, an automatic reduction of federal spending, particularly in relation to Medicare. Topics include the background and purpose of sequestration, the specific laws triggering it (Budget Control Act, Statutory PAYGO, Fiscal Responsibility Act), the current status and extensions, and the impact of sequestration on Medicare benefit payments, considering the associated rules and limitations under different types of sequestration orders.

The article presents questions and answers related to sequestration as a budget enforcement process including the purpose of a sequester, the budget requirements it enforces and how it is administered.

This report examines the Small Business Administration's (SBA's) appropriations (new budget authority, minus rescissions and sequestration) over time, focusing on developments and trends since FY2000. It also provides total available funding (which includes carryover from the prior fiscal year, carryover into the next fiscal year, account transfers, rescissions, and sequestration) and, for entrepreneurial development noncredit programs, actual and anticipated expenditures for comparative purposes. SBA appropriations, as a whole, have varied significantly from year to year since FY2000 and across all three of the agency's major spending categories: disaster assistance, business loan credit subsidies, and "other programs," a category that includes salaries and expenses, business loan administration, the Office of Inspector General, the Office of Advocacy, and entrepreneurial development and other noncredit programs. Overall, the SBA's appropriations have ranged from a high of over $761.9 billion in FY2020 to a low of $571.8 million in FY2007. Much of this volatility is due to significant variation in supplemental appropriations for disaster assistance to address economic damages caused by major hurricanes and for SBA lending program enhancements to help small businesses access capital during and immediately following recessions. For example, in FY2020, the SBA received over $760.9 billion in supplemental appropriations to assist small businesses adversely affected by the novel coronavirus (COVID-19) pandemic. Appropriations for SBA business loan credit subsidies-needed to pay for unanticipated increases in the cost of loan defaults, loan forgiveness, and debt relief payments-have also varied since FY2000, primarily due to the impact of changing economic conditions on the SBA's guaranteed loan portfolios and, in FY2020 and FY2021, for loan forgiveness and debt relief payments. Appropriations for the SBA's other programs, as a collective, have also varied since FY2000, ranging from $455.6 million in FY2007 to $46.7 billion in FY2021. This variation is primarily due to congressional response to changing economic conditions. For example, in FY2009 and FY2010 and again in FY2020 and FY2021, Congress approved significant, temporary increases in appropriations for the SBA's other programs spending category to address (1) the economic slowdown during and immediately following the Great Recession (2007-2009) and (2) the adverse economic impact of the COVID-19 pandemic, respectively. Overall, since FY2000, appropriations for SBA's other programs, excluding supplemental appropriations, have increased at a pace that exceeds inflation. The SBA's appropriations for FY1954 through FY1999 are provided in the Appendix. [ABSTRACT FROM AUTHOR]

The article focuses on sequester is a budget enforcement tool that was established by Congress in the Balanced Budget and Emergency Deficit Control Act of 1985. It mentions Sequestration is of recent interest due to its current use as an enforcement mechanism for three budget enforcement rules created by the Statutory Pay-As-You-Go Act of 2010. It also mentions potential impact of the American Rescue Plan Act of 2021.

The article focuses on sequestration is the automatic reduction of certain federal spending, generally by a uniform percentage. It mentions sequester is a budget enforcement tool that was established by Congress in the Balanced Budget and Emergency Deficit Control Act of 1985. It also mentions subsequent legislation, including, most recently, the Coronavirus Aid, Relief, and Economic Security Act and extended sequestration for mandatory spending through financial year 2030 and Medicare.

Fiscal imbalances predating the Great Recession but aggravated by it prompted the U.S. Congress to enact in 2011 legislation that, in the absence of other measures, would trigger two years later a so-called "budget sequestration"procedure that implied reducing government discretionary spending to unprecedented low levels over the following decade. For that reason, economic agents may not have expected this" fiscal stabilization measure of last resort "be sustainable when it was put into effect in 2013 as scheduled.This is exactly the issue this paper set out to explore, on the grounds that sizing up the expectations that economic agents had about the budget sequestration can provide powerful insights on how fiscal stabilization is likely to proceed in the U.S., going forward. The paper makes inferences about the credibility enjoyed by the budget sequestration with an adapted version of the Business Cycle Accounting approach, originally developed for other purposes. The main finding is that the evidence favors a scenario in which spending cuts are half the size of those actually implied by the sequester. The paper takes this result as an indication that the U.S. is unlikely to address its unresolved fiscal imbalances with just spending austerity, an interpretation consistent with existing literature that traces the seemingly anomalous behavior of economic variables during the Great Recession and its aftermath to alternative fiscal stabilization mechanisms. [ABSTRACT FROM AUTHOR]

The article provides a summary of sequester reductions in the U.S. Topics discussed include Budget Control Act of 2011 and the Joint Committee sequester; mandatory sequester exemptions such as limit for Medicare, and special rule for student loans; and annual sequester calculations by the Office of Management and Budget.

The article presents information on the process of budget sequestration of Medicare issued by Office of Management and Budget (OMB). It mentions that sequestration is only applied to Medicare benefit payments. Topics discussed in the article include discretionary Medicare funds, Budget Control Act (BCA) order for the fiscal year and the categories of Medicare that can undergo reductions in benefit spending.

The article offers information on budget sequestration which as per law is applicable in an event when policy targets are not met and can result in reduction of budget amount for a certain fiscal year. Topics discussed in the article include budget accounting, calculations of percentage reduction by Office of Management and Budget (OMB) and funding of federal programs such as Medicare.

The article offers information on reduction or sequestration on certain federal spending focusing on budget enforcement tool that was established by Balanced Budget and Emergency Deficit Control Act (BBEDCA). Topics discussed include Sequestration limitation to Medicare, Pay-As-You-Go Act and sequestration policy under Budget Control Act.

The article offers information on the funding and appropriation of U.S.Small Business Administration (SBA) that supports small businesses. It mentions the funding trend of SBA since financial year 2000 including account transfers, rescission, and sequestration . The article also states the spending categories of SBA including disaster assistance, business loan credit subsidies and salaries and expenses.

Microeconomic studies keep reporting that the intertemporal substitution in consumption and the Frisch elasticity of aggregate labor supply have significantly lower values than macroeconomic models find consistent with the dynamics of aggregate variables. The paper argues that in the U.S. such dynamics have been influenced since 2013 by the temporary spending cuts imposed by the so-called budget sequestration. The paper exploits the "policy experiment" features of that measure to gauge macroelasticity values from the evidence associated with it, adopting to that effect a macroeconomic model constructed according to the methodological principles advocated by the real business cycle literature. Readings of the preliminary evidence available at the time of this writing with such a measuring device do not particularly favor high values for either of the two macroelasticities under study. Although it's too early to be conclusive, this finding illustrates how existing disagreements about the value of key macroelasticities can eventually be narrowed down by applying the approach proposed in this paper to the evidence coming out of the budget sequestration policy, as it unfolds over time. [ABSTRACT FROM AUTHOR]

An introduction is presented in which the editor discusses one report within the issue regarding the U.S. budget sequestration.

The article discusses the appropriations from the allowances offered to the members of the House of Representatives of the U.S. Congress. It states how the funding does not include sequestration or any rescission. It talks about the recommendation of the House Appropriations Committee about the bills. It also discusses the adjustment of the funding for inflation.

The article highlights the Bipartisan Budget Act (BBA) of 2019 and changes to the Budget Control Act (BCA) of 2011. Topics include the enactment of BBA 2019, raise of the discretionary spending limits (caps) that was implemented by the BCA of 2011 for fiscal year 2020 and 2021; and other BCA-related changes, including an extension of the mandatory sequester through fiscal year 2029 and suspension of the statutory debt limit until August 1, 2021.

A report on the economic condition of the U.S. as of June 2013 is presented. It states that economic recovery remains uncertain due to a swing in inventory accumulation which is expected to slow and become a drag in the forthcoming quarters and forecasts that the sequester will not end in the near term. It provides an overview of the financial situation and the recent developments in the external sector and monetary policy. Charts depicting economic indicators are also presented.

The article discusses the effect of balanced budget rules on budget outcomes in the U.S. from the mid- 1980s till the present. It is stated that balanced budget rules may affect the conduct of fiscal policy over a business cycle. The Balanced Budget and Emergency Deficit Control Act of 1985, also known as Gramm-Rudman-Hollings (GRH), made two changes to the budget process: it established annual budget deficit targets; and created a sequestration mechanism to meet the targets.

On August 2, 2011, the President signed into law the Budget Control Act of 2011 (BCA, P.L. 112- 25), which included a number of budget-controlling mechanisms. As part of the legislation, caps were placed on discretionary spending for the next ten years, beginning with FY2012. If these caps are exceeded, the BCA provides for an automatic rescission--known as sequestration--to take place across most discretionary budget accounts to reduce the effective level of spending to the level of the cap. Additionally, special accommodations were made in the BCA to address the unpredictable nature of disaster assistance while attempting to impose discipline on the amount spent by the federal government on disasters. The BCA created an allowable adjustment specifically to cover disaster relief (defined as the costs of major disasters under the Stafford Act), separate from emergency appropriations. The limit established by the BCA on adjustments to the caps for disaster relief is based on the average funding provided for disaster relief over the previous ten years, excluding the highest and lowest annual amounts, calculated by the Office of Management and Budget. If Congress spends less than that average on disaster relief in a given fiscal year, the caps can be further adjusted upward by the unspent amount in the following year. The existence of this "allowable adjustment" for disaster relief has influenced the way that the Disaster Relief Fund (DRF) is structured, allowing a larger overall funding stream to be provided in annual appropriations without it counting against the bill's allocation of discretionary spending. On October 29, 2013, Hurricane Sandy came ashore, causing loss of life and billions of dollars in damage. The Administration proposed a relief package that exceeded the allowable adjustment for disaster relief under the BCA. The Administration requested, and Congress for the most part agreed, to designate the supplemental funding provided in the wake of Hurricane Sandy as emergency spending outside of the limited disaster relief adjustment made available under the BCA. The history of the legislative response to this disaster demonstrated that while the BCA included an accommodation to provide dedicated additional funding for many disasters, catastrophic events such as Sandy remain a challenge to those developing long-term budgeting strategies. This challenge could be compounded by the fact that by design, the methodology used by the Office of Management and Budget (OMB) to calculate the allowable adjustment could not capture the full range of disaster relief spending, and that the structure of the formula for calculating the average provides smaller allowable adjustments in future years. The sizeable initial disaster relief expenditures for Hurricane Katrina and the other 2005 storms will begin to lose relevance in calculating the allowable adjustment for disaster assistance for FY2016, and will no longer impact calculations for the allowable adjustment in FY2017. Once FY2005 and FY2006 rotate out, there will be a corresponding drop in the allowable disaster assistance adjustment. In the face of these challenges, Congress could choose to continue to use emergency funding to meet unbudgeted disaster relief needs, or change the allowable adjustment mechanism. Congress may also consider changing the formula used for calculating the allowable adjustment. Another potential option would be to take other steps to mitigate the impact of federal disaster relief spending on the budget, including altering the underlying laws, if Congress believes further legislative controls for federal disaster relief expenditures are a priority. This report will be updated as needed. [ABSTRACT FROM AUTHOR]

The article offers information on the U.S. Congressional Research Service (CRS) report on the funding of the U.S. Small Business Administration (SBA). It mentions the examination of the appropriations of the SBA including new budget authority, minus rescissions, and sequestration which focuses on the trends and developments since financial year (FY) 2000. It also discusses its appropriations on business loan credit subsidies.

The article discusses the possible impact on the size and capability of the U.S. Navy of limiting the Department of Defense (DoD) spending through fiscal year (FY) 2021 to levels near the caps established in the Budget Control Act of 2011 (BCA). The move is deemed to lead to a smaller and less capable Navy not fully in the execution of its missions. A return to sequestration in the period is noted to force the Navy to delay its warfighting capabilities and reduce its readiness.

This report examines the Small Business Administration's (SBA's) appropriations (new budget authority, minus rescissions and sequestration) over time, focusing on developments and trends since FY2000. It also provides total available funding (which includes carryover from the prior fiscal year, carryover into the next fiscal year, account transfers, rescissions, and sequestration) and, for entrepreneurial development noncredit programs, actual expenditures for comparative purposes. SBA appropriations, as a whole, have varied significantly from year to year since FY2000 and across all three of the agency's major spending categories: disaster assistance, business loan credit subsidies, and "other programs," a category that includes salaries and expenses, business loan administration, the Office of Inspector General, the Office of Advocacy, and entrepreneurial development programs. Overall, the SBA's appropriations have ranged from a high of $2.233 billion in FY2006 to a low of $571.8 million in FY2007. Much of this volatility is due to significant variation in appropriations for disaster assistance, which ranged from a high of $1.7 billion in FY2006 to a low of $0 in FY2009. This variation can be attributed primarily to supplemental appropriations provided to address disaster needs arising from the impact of major hurricanes, such as Hurricane Katrina and, more recently, Hurricane Sandy. The SBA's appropriations for business loan credit subsidies have also varied since FY2000, ranging from a high of $319.7 million in FY2013 ($337.3 million before sequestration and rescission) to a low of $1.3 million in FY2006 and FY2007. This variation is due to the impact of changing economic conditions on the SBA's guaranteed loan portfolios. During good economic times, revenue from SBA fees and collateral liquidation is typically sufficient to cover the costs of purchasing guaranteed loans that have defaulted. During and immediately following recessions, however, that revenue is typically insufficient to cover the costs of purchasing guaranteed loans that have defaulted. The SBA's appropriations for other programs, as a collective, have also varied since FY2000, ranging from a high of $1.6253 billion in FY2010 to a low of $455.6 million in FY2007. This variation is primarily due to congressional response to changing economic conditions. For example, Congress approved significant, temporary increases in appropriations for the SBA's other programs spending category in FY2009 and FY2010. Overall, since FY2000, appropriations for other programs have increased at a pace that exceeds inflation. This report provides appropriations for all five major components of the other programs spending category, including the SBA's entrepreneurial development programs. The SBA's appropriations for FY1954 through FY1999 are provided in the Appendix. [ABSTRACT FROM AUTHOR]

The article presents answers to the frequently-asked questions related to sequestration including the definition of sequestration, what is the purpose of a sequester, and how is sequestration administered.