Federal spending increased by four percent in 2011, to $3.6 trillion. Spending is projected to increase by $3 billion in 2012.

Federal revenues increased by $140 billion, or six percent in 2011.

The cost of the stimulus has grown. CBO originally projected it would cost $787 billion. It is now projected to cost $831 billion.

Interest spending is expected to rise significantly – from $224 billion projected in 2012 to $624 billion projected in 2022.

The number of people age 65 or older will increase by about one-third between 2012 and 2022 (from 14 to 17 percent of the population). This will greatly impact Social Security and health care spending.

“Because of the aging of the population and rising costs for health care, the set of budget policies that were in effect in the past cannot be maintained in the future.”

Over the next ten years, spending is expected to rise “because of increasing expenses generated by the aging of the population and rising costs for health care.”

“A significant worsening of the banking and fiscal problems in Europe could lead to further turmoil in international financial markets that could spill over to those in the United States and greatly weaken the economy here.”

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CNN says President Obama’s not-yet-chosen nominee to be Office of Management and Budget chief may face a tough fight on Capitol Hill.

The Associated Press reports President Obama will unveil some new business tax proposals in the coming weeks. Meanwhile, Bloomberg says in his upcoming budget release, the President is likely to recycle deficit reduction proposals from last year’s budget.

The Hill previews the upcoming battle over President Obama’s defense spending plan.

The New York Times looks at implications of debt problems in Europe.

On the opinion pages: Edward Pinto looks at how government-sponsored entities helped fuel the financial crisis.

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Look for bipartisan ways to encourage economic growth. Americans’ top concern is the economy. They want Congress to do what it can to help boost growth, but with the failed 2009 stimulus, and their concern about the budget deficit, it’s clear they don’t think more spending is the solution. This year Congress passed three important free trade deals; the Obama Administration and Republicans in Congress have presented regulatory reforms. Congress should look for avenues like these, coupled with spending cuts, to boost the U.S. economy.

Pass a budget. Congress failed to pass a budget outline again this year. This is one of lawmakers’ most basic constitutional duties – and year after year, they fail. Families spend most wisely when they have a document outlining spending priorities; Congress should emulate this example.

Put politics last. Don’t use the fact that it’s an election year as an excuse to put important decisions off. You were elected in 2010 to work a full two years, not to campaign to legislate for one and then campaign for another. In 2011, the debt went from $14 trillion to $15.1 trillion. It’ll increase just as rapidly this year – so get to work.

No tax increases. Once again, lawmakers must resist the urge to try to mask Washington’s spending problems with tax increases. We know it’s tempting to say Washington needs more money, but it doesn’t. It needs to spend what it has responsibly and continue to look for places to cut.

No more commissions, take action. In 2010, there was the President’s fiscal commission. In the spring and summer of this year, there were the Biden deficit talks. The fall brought the debt supercommittee. A lot of talk with no concrete plan for deficit reduction coming out of any of these deliberations. Taxpayers are tired of debate that ends in stalemate. In 2011, Congress must agree to a detailed plan to reduce government spending.

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According to the Economist, only 9% of adults think the U.S. should provide funding to help bailout bankrupt European countries. 80% say the U.S. should not.

According to Pew, only 38% of adults support providing ethanol subsidies in an effort to increase the nation’s energy supply. 48% oppose.

According to NBC/Wall Street Journal, 25% of adults think the economy will be better in 12 months. 28% think it will be worse and 47% think it will be the same.

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The unemployment rate dropped slightly to 9% in October, but the economy added a disappointing 80,000 jobs.

MSNBC, Politico, and the Associated Press report that on Wednesday the Senate blocked a $60 billion infrastructure spending plan that was originally part of President Obama’s jobs bill.

According to Senate Minority Leader Mitch McConnell (R-KY) the debt supercommittee will not get an extension of their deadline. The New York Times has the story.

In two separate stories Politico examines whether the supercommittee will meet its deadline and what could happen if it doesn’t. Roll Call says Senators John McCain and Lindsey Graham have asked the Pentagon to examine what the supercommittee failing would mean for the military.

The New York Times explains that interest groups concerned about maintaining their funding are trying to get the attention of the supercommittee.

The Hill says that House Speaker John Boehner is open to revenue increases as part of a deficit reduction deal, but is not willing to consider tax increases.

According to Politico, farmers are fighting hard to preserve agriculture subsidies.

The Hill covers how the Senate plans to handle the House-passed repeal of 3 percent withholding tax on government contractors.

After announcing that the Greece bailout would be subject to a popular vote, The New York Times and The Wall Street Journal say Greek Prime Minister George Papandreou has called off the referendum.

The New York Times and Reuters report on the growing costs of Italy’s debt and the markets’ skepticism on the country’s ability to repay its loans. Meanwhile, The Washington Times says French President Nicolas Sarkozy wants President Obama to be more involved in the European debt crisis solution.

According to The Wall Street Journal, home loan giant Freddie Mac has requested another $6 billion in aid from the federal government.

On the opinion pages: the USA Today laments that with the national debt reaching $15 trillion, Americans no longer have the luxury of tuning out Washington. Robert Trancinski examines the result of massive stimulus spending in China.

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On Wednesday, the U.S. House voted to reduce regulations on small business. The Associated Press has the story.

According to The Associated Press, Bloomberg, Politico, and The Washington Post, on Monday a bipartisan group of 100 House members sent a letter to supercommittee members calling for them to cut the budget deficit by $4 trillion over the next 10 years.

The New York Times reports at least one lawmaker thinks the supercommittee could ask for an extension of its deadline.

Politico and The Washington Post report there are more than 100 criminal investigations concerning 2009 stimulus spending underway at the Department of Energy.

The Associated Press says the federal government has charged 12 individuals with defrauding Medicare by $95 million.

According to the Joint Tax Committee, if all deductions were erased the corporate tax rate could be lowered to 28 percent. The Wall Street Journal has the story.

The New York Times, The Wall Street Journal and The Washington Post note the Federal Reserve has lowered its economic growth outlook.

The New York Times and Reuters have the latest on the turmoil over the European Union’s bailout of Greece. According to Politico, at least one U.S. lawmaker believes problems in Greece could lead to a U.S. recession.

On the opinion pages: Louis Woodhill explains how to stimulate the economy without government spending and Eleanor Clift discusses the high stakes for the super committee.

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As the Journal Star reports, the near-new curb ramps are slightly too steep — a difference that is barely noticeable for both walkers and wheelchair users, yet will cost $800,565 in federal and state funds to correct.

The city of Lincoln typically spends up to $500,000 annually on sidewalk repair. These mandated adjustments will put the city way over budget.

Lincoln city officials are agreeing to fund the alterations on 294 ramps. They’re worried of possible lawsuits and cut-offs in federal funding if they don’t. But that doesn’t mean they think this is the best use of their money in tight financial times.

Councilman Jon Camp calls the re-do an “absolute waste of money.”

Lincoln residents point out better ways for the money to be spent, “Some city street corners have no ramps at all, for example. And some city sidewalks have nasty patches and uneven sections that make navigation difficult for everyone.”

The wheelchair ramps might be too steep to comply with current standards. But the price of living up to ever-changing standards is much steeper.BA

According to The New York Times, Politico and The Washington Post, the House on Thursday passed a very short-term continuing resolution (CR) that will keep the federal government funded through Oct. 4. After this CR expires, Congress is expected to pass another that funds the government through Nov. 18.

The Hill, Politico and The Washington Times examine Republican plans to cut health and education funding in fiscal year 2012.

The New York Times says the federal government is selling off its assets in order to raise money.

According to ABC News, President Obama believes the U.S. is losing ground globally.

The New York Times and Reuters have the latest on the debt crisis in Europe.

Politico looks at how much taxpayers pay for harassment claims made by Capitol Hill staffers.

On the opinion pages: Michael Gerson discusses why Europe’s troubles matter to the U.S. and Iain Murray and David Bier argue government stimulus doesn’t help the economy.

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So what happens when they die?

In the past five years, the federal government has continued to mail out more than $600 million in benefit payments to people who are no longer alive.

News that the government was paying people six feet under surfaced in 2005 – yet the payments continue.

The government continues to dole out millions to the deceased as they struggle to develop a system that reports which beneficiaries are alive, and which aren’t. Figuring this system out is taking a lifetime — or two. According to CBS:

In one case, the son of a beneficiary continued receiving payments for 37 years after his father’s death in 1971. They payments – totaling more than $515,000 – were only discovered when the son died in 2008.

And the problem isn’t just contained to benefit payments.

Last year, government investigators found that more than 89,000 stimulus payments of $250 each from the massive economic recovery package went to people who were either dead or in prison.

Everybody knows you don’t move out of your house without cancelling the electricity. It’s common sense. It’s high time for the government to learn from the American public and stop paying for a house when nobody’s home.BA

Politico and Roll Call have updates on what’s going on with the debt supercommittee.

The New York Times looks at how short-term budget and tax legislation affects the country.

The New York Times and The Wall Street Journal look at President Obama’s continued efforts to pass his jobs bill. Meanwhile, according to The Washington Post and The Washington Times, the Senate won’t immediately take up the legislation.

According to Politico, the transportation industry is lobbying hard for a new stimulus bill.

ABC News looks at plans to reform the U.S. Postal Service, which is in deep financial trouble.

The Wall Street Journal examines recently passed state and local tax increases.

The New York Times reports European leaders are nearing a deal on a bailout fund for cash-strapped countries. The Telegraph says the U.S. and Germany differ on approach.

On the opinion pages: Lawrence Kotlikoff has a five-step plan for getting the economy back on track and it includes getting the nation’s fiscal house in order; Charles Schwab discusses regulations; and Steven Cunningham and Polina Vlasenko say high U.S. debt will eventually hinder economic growth.

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