What the End of the Year Fiscal Train Wreck Means for the Great Lakes-Isely, 2012

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This panel will examine what sorts of decisions the President and Congress – new or old – will have to make following this year’s November elections. Panelists will examine the political landscape …

This panel will examine what sorts of decisions the President and Congress – new or old – will have to make following this year’s November elections. Panelists will examine the political landscape and describe the major decisions that have to be made, including on government funding, sequestration, and tax cuts. Special emphasis will be given to the impacts various budget proposals will have on Great Lakes restoration funding.

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  • 1. Dr. Paul IselySeidman College of BusinessGrand Valley State University
  • 2. INCOME Average growth 3.1% TIME
  • 3. INCOME TIME
  • 4. INCOME TIME
  • 5. 12.2 12TRILLION DOLLARS 11.8 11.6 11.4 11.2 11 10.8 OBAMA RYAN Sources: Ryan Budget Plan, Budget of the US government, and CBO
  • 6. RYAN 45% 55% Defense Non-Defense OBAMA 48% 52% Defense Non-Defense Sources: Ryan Budget Plan, Budget of the US government, and CBO
  • 7.  $67 million to $127 million less funding in Romney/Ryan plan vs Obama plan  Assume Ryan proposed ratio of defense to non- defense spending  Assume government spending reduced to 20% of GDP  Range shows keeping GLRI funding intact vs proportional cut  Assume proportional cuts for all but GLRI funding Based on average project size, this results in approximately 60-130 fewer federally funded restoration projects across the Great Lakes region
  • 8. iselyp@gvsu.edu