APRIL 7, 2013 | VIEW ONLINE
Balancing the budget will “boost the economy immediately,” creating more jobs and opportunities for all Americans. But when President Obama unveils his budget on Wednesday – two months late and three weeks after Republicans passed a responsible, balanced budget – will it be balanced? White House advisors say, “no.”
Click here to see a comparison of the Republican budget and what we expect to see from President Obama, and read more below:
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We have a lot of questions about President Obama’s budget: Will it balance? Will the president endorse the job-creating Keystone XL energy project? How much debt will he propose handing over to future generations?
Meager deficit reduction, no net cuts: While the Republican plan balances the budget within 10 years, it appears the president’s budget will only reduce the deficit by a meager $600 billion in the next decade with no net spending cuts. The deficit for this year alone is projected to be $845 billion.
Holding savings hostage for more tax hikes: The president’s last offer was significantly skewed in favor of higher taxes – which he got. He shouldn’t hold needed reforms hostage for more tax hikes that will hurt our economy.
For the sake of balance? A White House advisor said the president doesn’t want to “balance the budget for the purpose of simply balancing the budget.” Neither do Republicans. As Speaker Boehner says, “The very point of balancing the budget is to help our economy grow and to create jobs.”
Pressure builds for Keystone energy, jobs: The Democratic-controlled Senate voted in favor of the popular Keystone XL project, which Rep. Lee Terry (R-NE) says would “give our economy a shot in the arm and make energy more affordable – and it won’t cost the taxpayers a dime.”
Why is the president’s budget two months late? Here are some possibilities.
House of Representatives mourns loss of former House historian: “Robert Remini literally wrote the book on the House, bringing to life its stories and personalities in a way that no one had before,” said Speaker Boehner. “He brought the people closer to their House, and left proof that our founders succeeded in making a legislative body that would reflect the will and the spirit of the people.”
Photos from March 2013: From welcoming the Prime Minster of Ireland to Washington, keeping the doors to the U.S. Capitol open for visitors, to passing a balanced budget to help our economy, it was a busy month in the House …
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