President Obama on Tuesday released an election-year budget proposal that calls for $3.9 trillion in spending in fiscal 2015.
Deficit reduction takes a back seat in the budget to jobs initiatives Democrats hope will be popular with voters.
The central elements of the proposal are $56 billion in new stimulus spending above the discretionary budget cap in place for next year, $302 billion in infrastructure spending over four years and a series of tax breaks for lower-income workers.
Congressional Republicans are already pushing back on the proposed budget, saying it doesn’t do enough to address the country’s long-term deficit issues, and Rep. Paul Ryan went as far as to say the new proposal “isn’t a serious document, it’s a campaign brochure.”
18:19 // 1 month ago
The Senate on Wednesday approved legislation that prevents a government shutdown and allows the upper chamber to begin work on passing a budget.
In a 73-26 vote, the Senate approved a $984 billion continuing resolution that keeps the government funded through the end of the fiscal year on Sept. 30. The House is expected to approve the bill before adjourning on Thursday.
More than 20 Republicans and Sen. Jon Tester (D-Mont.) voted against the measure.
We don’t know about you guys, but we’ll believe that Congress is ready to stop using potential government shutdowns as a negotiating chip every 4-6 weeks if/when it actually happens. That said, the thought of hearing about something other than the government spending bills for a few weeks is certainly a nice one.
21:10 // 1 year ago
President Barack Obama will meet with top congressional leaders on Friday to discuss the deep, automatic U.S. government spending cuts slated to go into effect that day, congressional and White House officials said on Wednesday.
Obama is set to meet with Republican Speaker of the House of Representatives John Boehner, Senate Republican leader Mitch McConnell, Democratic Senate Majority Leader Harry Reid and Nancy Pelosi, the House Democratic leader.
The meeting would be the first between the leaders this year, despite weeks of haggling over whether and how Washington could avoid the cuts known as the “sequester,” which the White House has warned will cause damage to U.S. economic growth.
Considering he has yet to meet with Congressional leaders this year, and scheduled a post-sequester meeting two days before the cuts are triggered, does this seem like a gamble by the President to lay blame for the sequestration at the feet of Republicans to anybody else?
14:18 // 1 year ago