Avionics News November 2012 - 14
In this monthly column, Ric Peri of the AEA’s Washington, D.C., office, informs members of the latest regulatory updates.
B Y
R I C
P E R I A EA V I C E P R ES I D E N T O F G OV E R N M E N T & I N D U ST RY A F FA I RS
Caution:
W
Rough Road Ahead
e began 2012 with good news that after 23 which equaled about 40 percent of the economy in 2008, short-term funding extensions, the Federal was 70 percent in 2011, and could swell to 97 percent by Aviation Administration finally had long-term 2021. So, as Congress was debating whether or not to raise authorization and the promise of long-term funding. the debt ceiling, it also was in heated discussions about President Barack Obama signed into law the FAA balancing the budget. There were months of negotiations Modernization and Reform Act of 2012, which provided between the two political parties to find a compromise a four-year, $63.4 billion authorization package for the to balance the budget, which ultimately failed. This is agency. where the Budget Control Act of 2011 enters, which was Unfortunately, lurking in the shadows of joy was the threat of sequestration. If you recall, back in I hope I’m wrong, but I don’t think this is a question mid-2011, there was a political debate about raising the debt ceiling. Some of if sequestration takes effect, but rather when European countries were being hit sequestration takes effect; and the date is Jan. 1, 2013. hard with out-of-control spending and a lack of available loans, and were on the verge of defaulting on their own loans. The U.S. was in the middle of this situation, trying established to ensure that if a balanced budget agreement to increase the authorized debt ceiling in order to not could not be reached, the law automatically makes certain default on its loans. the government cut spending more than it increases the Personally, it seems like simply balancing your debt limit. Balanced means you can’t spend more than you checkbook. Whether it’s your personal or business take in, and the Budget Control Act capped the budget accounts, you need income to pay expenses, and when authority for each fiscal year from 2012 to 2021. income is down, you borrow what is needed. Whether it’s The Congressional Budget Office estimated that the your personal or business account, when you borrow, you Budget Control Act will reduce the deficit by $22 billion typically update the budget so the loan can be repaid and in fiscal year 2012, and by $917 billion between 2012 and you can return to operating in the green. 2021. Under the bill, the president is given authority to The Congressional Budget Office estimated the debt, increase the debt, under certain conditions, by up to $900
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avionics news
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november
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Avionics News November 2012
Table of Contents for the Digital Edition of Avionics News November 2012
Point of Communication
AEA Now
International News and Regulatory Updates
Modernizing Electricals
Member Profile
House & Hangar Calls
Gliders, Sailplanes and Motor-Gliders
A Conversation With...
Apple's Latest Smartphone Creates Chaos, Opportunity
Before & After
Member Profile
Business Basics
Aviation Aces
Theory & Practice
Legal Ease
What's New
Marketplace Classifieds
Avionics News November 2012 - Intro
Avionics News November 2012 - Cover1
Avionics News November 2012 - Cover2
Avionics News November 2012 - 1
Avionics News November 2012 - 2
Avionics News November 2012 - 3
Avionics News November 2012 - Point of Communication
Avionics News November 2012 - 5
Avionics News November 2012 - AEA Now
Avionics News November 2012 - 7
Avionics News November 2012 - 8
Avionics News November 2012 - 9
Avionics News November 2012 - 10
Avionics News November 2012 - 11
Avionics News November 2012 - 12
Avionics News November 2012 - 13
Avionics News November 2012 - 14
Avionics News November 2012 - 15
Avionics News November 2012 - International News and Regulatory Updates
Avionics News November 2012 - 17
Avionics News November 2012 - 18
Avionics News November 2012 - 19
Avionics News November 2012 - Modernizing Electricals
Avionics News November 2012 - 21
Avionics News November 2012 - 22
Avionics News November 2012 - 23
Avionics News November 2012 - Member Profile
Avionics News November 2012 - 25
Avionics News November 2012 - 26
Avionics News November 2012 - 27
Avionics News November 2012 - House & Hangar Calls
Avionics News November 2012 - 29
Avionics News November 2012 - 30
Avionics News November 2012 - 31
Avionics News November 2012 - 32
Avionics News November 2012 - 33
Avionics News November 2012 - Gliders, Sailplanes and Motor-Gliders
Avionics News November 2012 - 35
Avionics News November 2012 - 36
Avionics News November 2012 - 37
Avionics News November 2012 - 38
Avionics News November 2012 - 39
Avionics News November 2012 - A Conversation With...
Avionics News November 2012 - 41
Avionics News November 2012 - Apple's Latest Smartphone Creates Chaos, Opportunity
Avionics News November 2012 - 43
Avionics News November 2012 - 44
Avionics News November 2012 - 45
Avionics News November 2012 - 46
Avionics News November 2012 - Before & After
Avionics News November 2012 - Member Profile
Avionics News November 2012 - 49
Avionics News November 2012 - 50
Avionics News November 2012 - 51
Avionics News November 2012 - Business Basics
Avionics News November 2012 - 53
Avionics News November 2012 - 54
Avionics News November 2012 - 55
Avionics News November 2012 - Aviation Aces
Avionics News November 2012 - 57
Avionics News November 2012 - Theory & Practice
Avionics News November 2012 - 59
Avionics News November 2012 - 60
Avionics News November 2012 - 61
Avionics News November 2012 - Legal Ease
Avionics News November 2012 - 63
Avionics News November 2012 - 64
Avionics News November 2012 - 65
Avionics News November 2012 - What's New
Avionics News November 2012 - 67
Avionics News November 2012 - 68
Avionics News November 2012 - 69
Avionics News November 2012 - Marketplace Classifieds
Avionics News November 2012 - 71
Avionics News November 2012 - 72
Avionics News November 2012 - Cover3
Avionics News November 2012 - Cover4
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