July 24, 2013
Today we are going to use CEPR’s patented new budget calculator to improve a NYT budget article so that it is more meaningful to people who read it. The focus of the piece is efforts by House Republicans to sharply reduce spending from current levels.
One paragraph tells readers:
“For the fiscal year that begins Oct. 1, Mr. Obama requested nearly $3 billion for renewable energy and energy efficiency programs — a mainstay of his economic agenda since he was first elected. The House approved $826 million. Senate Democrats want to give $380 million to ARPA-E, an advanced research program for energy. The House allocated $70 million.”
Here’s how that would read after using the new CEPR budget calculator:
“For the fiscal year that begins Oct. 1, Mr. Obama requested nearly $3 billion (0.08 percent of the budget) for renewable energy and energy efficiency programs — a mainstay of his economic agenda since he was first elected. The House approved $826 million (0.02 percent of federal spending). Senate Democrats want to give $380 million (0.01 percent of spending) to ARPA-E, an advanced research program for energy. The House allocated $70 million (0.002 percent of federal spending).
The piece then told readers:
“A House bill to finance labor and health programs, expected to be unveiled Wednesday, makes good on Republican threats to eliminate the Corporation for Public Broadcasting.”
After using the CEPR budget calculator it would say:
“A House bill to finance labor and health programs, expected to be unveiled Wednesday, makes good on Republican threats to eliminate the Corporation for Public Broadcasting, which currently receives less than 0.01 percent of federal spending.”
Later the article reports:
“Republicans are open about their intentions to target the president’s priorities. The House transportation and housing bill for fiscal 2014 cuts from $3.3 billion to $1.7 billion the financing for Community Development Block Grants, which go mainly to large cities and urban counties for housing and social programs, largely for the poor. That level is below the number secured by President Gerald R. Ford when he created the program — without adjusting for inflation.”
After using the CEPR budget calculator it would say:
“Republicans are open about their intentions to target the president’s priorities. The House transportation and housing bill for fiscal 2014 cuts from $3.3 billion to $1.7 billion (0.09 percent of spending to 0.05 percent) the financing for Community Development Block Grants, which go mainly to large cities and urban counties for housing and social programs, largely for the poor. That level is below the number secured by President Gerald R. Ford when he created the program — without adjusting for inflation.
The next sentence tells readers:
“The Securities and Exchange Commission, which has been flexing its muscle against hedge fund managers and insider trading schemes, would see financing cut 18 percent from the current level.”
After using the CEPR budget calculator it would say:
“The Securities and Exchange Commission, which has been flexing its muscle against hedge fund managers and insider trading schemes, would see financing cut 18 percent from the current level, which is 0.037 percent of federal spending.”
See, with the CEPR budget calculator and just a few minutes work the NYT could do a far better job informing readers about the budget.
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