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Forbes Topline

How The Secret Service Spends Its $3 Billion Budget

Forbes Topline

Forbes

Entrepreneurship, Business News, News, Business

4.86 Ratings

🗓️ 19 July 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

Even on an inflation-adjusted basis, the Secret Service has its highest-ever budget in at least a decade. After Saturday’s events, lawmakers are bound to be interested in how they’re using it. Read the full story on Forbes: https://www.forbes.com/sites/kylemullins/2024/07/14/the-secret-service-has-access-to-more-money-than-ever/ See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hi, I'm Ali Jackson Jolly. I'm here with Kyle Con Mullins, who is a reporter with money

0:09.8

and politics. Kyle, welcome and thanks for being here with us.

0:14.7

Great to be here, Ali. Thanks for having me.

0:17.4

Soon after the assassination attempt on former President Trump, the U.S. House Chair of the Oversight Committee called for

0:26.8

the Director of the Secret Services, Kimberly Cheetle, to testify before Congress.

0:34.0

Both the House Republicans and really public opinion

0:40.5

was questioning how this breach of security happened.

0:46.7

Soon after that, you reported on the budget

0:50.8

around the Secret Service, which is higher than it's been before.

0:54.8

So can you just tell us what should we know about the Secret Service budget and really what

1:02.4

the House Oversight might be looking into with respect to their budget.

1:07.0

Yeah, so I think there was a lot of confusion and anger after of course the assassination attempt on former President Trump.

1:14.6

And, you know, it led to a lot of questions about like,

1:17.4

what went wrong here?

1:18.4

How did a gunman manage to get on the roof

1:21.3

just a couple hundred yards away from the former president where the former president was speaking? the And so what I was really curious about is how much money does the US government actually allocate to the Secret Service and where does that money go?

1:37.0

And when I started looking into it, I found so that the Secret Service's budget this year is about $3 billion, which is a heck of a lot of money,

1:43.4

although in the context of the broader Department Homeland Security's

1:46.4

budget, over $100 billion, it's not actually an enormous amount.

1:50.1

But the bigger thing is that that $3 billion is the biggest budget the Secret Service has ever had.

1:55.0

And even when we adjusted the data for inflation over the past 10 years, it's still the biggest budget that the Secret Service has ever had.

2:02.0

They've already spent $1.8 billion this fiscal year,

...

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