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Senator Tom Coburn (R., Okla.) holds the treasure map. He and his team cite an Office of Management and Budget document with the riveting title “Balances of Budget Authority — Budget of the U.S. Government — Fiscal Year 2011.†On page 8, Table 1 indicates in black and white that this fiscal year’s federal budget contains $703,128,000,000 in “unobligated balances.†Thus, more than $703 billion languishes on department, agency, and program ledgers. This includes $12.2 billion unspent at the Agriculture Department, $16.4 billion at Labor, $25.2 billion at Housing and Urban Development, $71.4 billion at Defense, and $309.1 billion at Treasury.While unspent obligated money must be stewarded for specific purposes for up to five years, these unobligated funds “have not yet been committed by contract or other legally binding action by the government,†OMB explains.
Some if it, sure; if there are any pending contract disputes or suits they ultimately have to pay on, it comes out of the funds from the year to which the case relates, though.
That would be encumbered though, I presume.OMB is talking about unencumbered funds.
