Bill Overview
Title: Responsible Budget Targets Act of 2022
Description: This bill modifies the federal budget process to establish new spending caps that are adjusted annually based on factors such as the amount of revenue and the growth of the gross domestic product.
Sponsors: Sen. Braun, Mike [R-IN]
Target Audience
Population: People globally affected by changes in US federal budget allocations
Estimated Size: 300000000
- Federal budget changes affect government spending, which influences a wide range of public services and programs.
- Changes in spending caps can impact sectors such as healthcare, education, infrastructure, and defense.
- Individuals and organizations receiving federal funding are directly affected by any changes in the budget.
- Federal employees may be impacted by budget cuts or reallocations.
Reasoning
- The policy affects a broad base of federal budget allocations, impacting sectors such as health, education, and defense.
- With the budget limits, the policy may lead to modification in the funding of key public services that millions of Americans depend on, thus altering their wellbeing.
- The allocation of the spending cap is strategic, potentially favoring essential services over less critical ones.
- A common individual might not immediately perceive the policy's impact unless personally interfacing with public or federally funded resources.
- Federal employees and those in sectors heavily reliant on government budgets will feel direct changes, either beneficial or detrimental.
- Inflation, GDP growth, and revenue forecasts will influence how strict or lenient these budget caps turn out, affecting spending priorities year to year.
- The policy's fixed monetary limits will restrict the scale and scope of adjustments unless further provisions or exceptions are made.
Simulated Interviews
Public School Teacher (Los Angeles, CA)
Age: 28 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 14/20
Statement of Opinion:
- I'm worried about potential cuts to education funding.
- My school depends on federal support for a lot of our programs.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 5 | 6 |
| Year 3 | 5 | 6 |
| Year 5 | 4 | 6 |
| Year 10 | 5 | 6 |
| Year 20 | 7 | 6 |
Federal Employee (Houston, TX)
Age: 52 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 10/20
Statement of Opinion:
- It's crucial to maintain stability with federal budget allocations.
- I hope my department's work isn't compromised.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 5 | 7 |
| Year 3 | 5 | 7 |
| Year 5 | 6 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 8 | 7 |
Healthcare Worker (Chicago, IL)
Age: 34 | Gender: other
Wellbeing Before Policy: 8
Duration of Impact: 8.0 years
Commonness: 12/20
Statement of Opinion:
- Funding adjustments could affect healthcare services.
- I'm concerned about patient access and care quality.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 7 | 8 |
| Year 3 | 6 | 8 |
| Year 5 | 6 | 8 |
| Year 10 | 7 | 8 |
| Year 20 | 9 | 8 |
Small Business Owner (Miami, FL)
Age: 40 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- Changes in government contracts can deeply affect my business.
- Stability and predictability in federal budgets are crucial for planning.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 5 | 7 |
| Year 3 | 4 | 7 |
| Year 5 | 5 | 7 |
| Year 10 | 6 | 7 |
| Year 20 | 8 | 7 |
Retired (New York, NY)
Age: 66 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 15.0 years
Commonness: 16/20
Statement of Opinion:
- I've been hearing rumors about funding cuts to Medicare.
- Any reduction in my benefits would strain my finances.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 5 | 6 |
| Year 20 | 6 | 6 |
Graduate Student (Phoenix, AZ)
Age: 25 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 13/20
Statement of Opinion:
- My education depends on federal funding.
- I'm concerned about future grants and loan availability.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 4 | 5 |
| Year 5 | 5 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 8 | 5 |
Software Developer (Seattle, WA)
Age: 45 | Gender: male
Wellbeing Before Policy: 9
Duration of Impact: 0.0 years
Commonness: 18/20
Statement of Opinion:
- I'm observant of how budget policies influence the economy.
- Personally, these changes don't impact me directly at this point.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 9 |
| Year 2 | 9 | 9 |
| Year 3 | 9 | 9 |
| Year 5 | 9 | 9 |
| Year 10 | 9 | 9 |
| Year 20 | 9 | 9 |
Defense Contractor (Boston, MA)
Age: 62 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 9/20
Statement of Opinion:
- Defense spending impacts job security for me and my team.
- I need to be prepared for potential project adjustments.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 7 |
| Year 2 | 6 | 7 |
| Year 3 | 5 | 7 |
| Year 5 | 6 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 7 | 7 |
Nonprofit Director (San Francisco, CA)
Age: 55 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 7.0 years
Commonness: 11/20
Statement of Opinion:
- Consistent budget allocations are crucial for our mission.
- I'm evaluating our strategies to manage any funding gaps.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 6 |
| Year 2 | 5 | 6 |
| Year 3 | 4 | 6 |
| Year 5 | 4 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 8 | 6 |
Freelance Writer (Atlanta, GA)
Age: 30 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 1.0 years
Commonness: 17/20
Statement of Opinion:
- Federal policies largely impact society but their direct impact on me is minimal.
- It's interesting to analyze changes and forecast outcomes.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 8 | 8 |
Cost Estimates
Year 1: $250000000 (Low: $200000000, High: $300000000)
Year 2: $260000000 (Low: $210000000, High: $310000000)
Year 3: $270000000 (Low: $220000000, High: $320000000)
Year 5: $290000000 (Low: $240000000, High: $340000000)
Year 10: $350000000 (Low: $280000000, High: $420000000)
Year 100: $850000000 (Low: $680000000, High: $1020000000)
Key Considerations
- The influence on key federal programs depending on budget reallocation needs.
- Potential resistance or compliance issues among federal departments about budget caps.
- Long-term economic impacts resulting from constrained federal spending and subsequent stimulus effects.
- Potential shifts in labor markets due to changes in government-funded projects or public sector employment.