|
Statutory Pay-As-You-Go Act Of 2010
The Statutory Pay-As-You-Go Act of 2010, Title I of , is a public law passed by the 111th United States Congress and signed by US President Barack Obama on February 12, 2010. The act reinstated pay-as-you-go budgeting rules used in Congress from 1990 until 2002, ensuring that most new spending is offset by spending cuts or added revenue elsewhere (with several major policy exemptions). Legislative history The Act was introduced in the House of Representatives on June 17, 2009, by Majority Leader Steny Hoyer ( D-Maryland) and has been cosponsored by 169 of the 257 House Democrats. The Act had initially passed the House of Representatives 265–166 as a standalone bill in July 2009, then was attached in the Senate to legislation raising the debt limit to $14.3 trillion. A majority of 241 Democrats supported the bill while a majority of 153 Republicans opposed it. In the Senate, the amendment attaching pay-as-you-go language to the debt-limit increase passed on a party-line vote ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Steny Hoyer
Steny Hamilton Hoyer (born June 14, 1939) is an American politician and attorney serving as the United States House of Representatives, U.S. representative for since 1981 and as House majority leader, House Majority Leader since 2019. A Democratic Party (United States), Democrat, Hoyer was first elected in a special election on May 19, 1981. As of 2022, he is in his 21st term as a member of the House. The district includes a large swath of rural and suburban territory southeast of Washington, D.C. Hoyer is the dean of the United States congressional delegations from Maryland, Maryland congressional delegation and the most Seniority in the United States House of Representatives, senior Democrat in the House. Since 2003, Hoyer has been the second-ranking Democrat in the House of Representatives behind Nancy Pelosi. He is a two-time Party leaders of the United States House of Representatives, House majority leader, having previously served in the post from 2007 to 2011 under Speaker ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Democratic Party (United States)
The Democratic Party is one of the two major contemporary political parties in the United States. Founded in 1828, it was predominantly built by Martin Van Buren, who assembled a wide cadre of politicians in every state behind war hero Andrew Jackson, making it the world's oldest active political party.M. Philip Lucas, "Martin Van Buren as Party Leader and at Andrew Jackson's Right Hand." in ''A Companion to the Antebellum Presidents 1837–1861'' (2014): 107–129."The Democratic Party, founded in 1828, is the world's oldest political party" states Its main political rival has been the Republican Party since the 1850s. The party is a big tent, and though it is often described as liberal, it is less ideologically uniform than the Republican Party (with major individuals within it frequently holding widely different political views) due to the broader list of unique voting blocs that compose it. The historical predecessor of the Democratic Party is considered to be th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maryland
Maryland ( ) is a state in the Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware and the Atlantic Ocean to its east. Baltimore is the largest city in the state, and the capital is Annapolis. Among its occasional nicknames are '' Old Line State'', the ''Free State'', and the '' Chesapeake Bay State''. It is named after Henrietta Maria, the French-born queen of England, Scotland, and Ireland, who was known then in England as Mary. Before its coastline was explored by Europeans in the 16th century, Maryland was inhabited by several groups of Native Americans – mostly by Algonquian peoples and, to a lesser degree, Iroquoian and Siouan. As one of the original Thirteen Colonies of England, Maryland was founded by George Calvert, 1st Baron Baltimore, a Catholic convert"George Calvert and Cecilius Calvert, Barons Baltimore" William Hand Browne, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Barack Obama
Barack Hussein Obama II ( ; born August 4, 1961) is an American politician who served as the 44th president of the United States from 2009 to 2017. A member of the Democratic Party, Obama was the first African-American president of the United States. He previously served as a U.S. senator from Illinois from 2005 to 2008 and as an Illinois state senator from 1997 to 2004, and previously worked as a civil rights lawyer before entering politics. Obama was born in Honolulu, Hawaii. After graduating from Columbia University in 1983, he worked as a community organizer in Chicago. In 1988, he enrolled in Harvard Law School, where he was the first black president of the '' Harvard Law Review''. After graduating, he became a civil rights attorney and an academic, teaching constitutional law at the University of Chicago Law School from 1992 to 2004. Turning to elective politics, he represented the 13th district in the Illinois Senate from 1997 until 2004, when he ran for the U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
111th United States Congress
The 111th United States Congress was a meeting of the legislative branch of the United States federal government from January 3, 2009, until January 3, 2011. It began during the last weeks of the George W. Bush administration, with the remainder spanning the first two years of Barack Obama's presidency. It was composed of the Senate and the House of Representatives. The apportionment of seats in the House was based on the 2000 U.S. Census. In the November 2008 elections, the Democratic Party increased its majorities in both chambers (including – when factoring in the two Democratic caucusing independents – a brief filibuster-proof 60-40 supermajority in the Senate), and with Barack Obama being sworn in as President on January 20, 2009, this gave a Democrats an overall federal government trifecta for the first time since the 103rd Congress in 1993. However, the Senate supermajority only lasted for a period of 72 working days while the Senate was actually in sess ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PAYGO
PAYGO (Pay As You GO) is the practice in the United States of financing expenditures with funds that are currently available rather than borrowed. Budgeting The PAYGO compels new spending or tax changes not to add to the federal debt. Not to be confused with pay-as-you-go financing, which is when a government saves up money to fund a specific project. Under the PAYGO rules, a new proposal must either be "budget neutral" or offset with savings derived from existing funds. The goal of this is to require those in control of the budget to engage in the diligence of prioritizing expenses and exercising fiscal restraint. An important example of such a system is the use of PAYGO in both the statutes of the U.S. Government and the rules in the U.S. Congress. First enacted as part of the Budget Enforcement Act of 1990 (which was incorporated as Title XIII of the Omnibus Budget Reconciliation Act of 1990), PAYGO required all increases in direct spending or revenue decreases to be offset by o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States House Of Representatives
The United States House of Representatives, often referred to as the House of Representatives, the U.S. House, or simply the House, is the Lower house, lower chamber of the United States Congress, with the United States Senate, Senate being the Upper house, upper chamber. Together they comprise the national Bicameralism, bicameral legislature of the United States. The House's composition was established by Article One of the United States Constitution. The House is composed of representatives who, pursuant to the Uniform Congressional District Act, sit in single member List of United States congressional districts, congressional districts allocated to each U.S. state, state on a basis of population as measured by the United States Census, with each district having one representative, provided that each state is entitled to at least one. Since its inception in 1789, all representatives have been directly elected, although universal suffrage did not come to effect until after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
THOMAS
Thomas may refer to: People * List of people with given name Thomas * Thomas (name) * Thomas (surname) * Saint Thomas (other) * Thomas Aquinas (1225–1274) Italian Dominican friar, philosopher, and Doctor of the Church * Thomas the Apostle * Thomas (bishop of the East Angles) (fl. 640s–650s), medieval Bishop of the East Angles * Thomas (Archdeacon of Barnstaple) (fl. 1203), Archdeacon of Barnstaple * Thomas, Count of Perche (1195–1217), Count of Perche * Thomas (bishop of Finland) (1248), first known Bishop of Finland * Thomas, Earl of Mar (1330–1377), 14th-century Earl, Aberdeen, Scotland Geography Places in the United States * Thomas, Illinois * Thomas, Indiana * Thomas, Oklahoma * Thomas, Oregon * Thomas, South Dakota * Thomas, Virginia * Thomas, Washington * Thomas, West Virginia * Thomas County (other) * Thomas Township (other) Elsewhere * Thomas Glacier (Greenland) Arts, entertainment, and media * ''Thomas'' (Burton novel) 1969 novel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Senate
The United States Senate is the upper chamber of the United States Congress, with the House of Representatives being the lower chamber. Together they compose the national bicameral legislature of the United States. The composition and powers of the Senate are established by Article One of the United States Constitution. The Senate is composed of senators, each of whom represents a single state in its entirety. Each of the 50 states is equally represented by two senators who serve staggered terms of six years, for a total of 100 senators. The vice president of the United States serves as presiding officer and president of the Senate by virtue of that office, despite not being a senator, and has a vote only if the Senate is equally divided. In the vice president's absence, the president pro tempore, who is traditionally the senior member of the party holding a majority of seats, presides over the Senate. As the upper chamber of Congress, the Senate has several powers o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Public Debt
The national debt of the United States is the total national debt owed by the federal government of the United States to Treasury security holders. The national debt at any point in time is the face value of the then-outstanding Treasury securities that have been issued by the Treasury and other federal agencies. The terms "national deficit" and "national surplus" usually refer to the federal government budget balance from year to year, not the cumulative amount of debt. In a deficit year the national debt increases as the government needs to borrow funds to finance the deficit, while in a surplus year the debt decreases as more money is received than spent, enabling the government to reduce the debt by buying back some Treasury securities. In general, government debt increases as a result of government spending and decreases from tax or other receipts, both of which fluctuate during the course of a fiscal year. There are two components of gross national debt: * "Debt held ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fannie Mae
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. In 2022, Fannie Mae was ranked number 33 on the ''Fortune'' 500 rankings of the largest United States corporations by total revenue. __TOC__ History Background and early decades Historically, most housing loans in the early 1900s in the United States were s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
