Obama budget to call for reversal of mandatory cuts
President Obama on Thursday will announce that his proposed budget for next fiscal year would reverse across-the-board budget cuts that went into effect two years ago.
At the House Democratic Caucus retreat in Philadelphia, the president “will propose to end the across-the-board sequester cuts that threaten our economy and our military,” said a White House official.
“The president’s budget will fully reverse those cuts for domestic priorities and match those investments dollar-for-dollar with the resources our troops need to keep America safe,” the White House official added.
Under so-called sequestration, automatic budget cuts were implemented when lawmakers could not reach a spending compromise in the months following Obama’s re-election.
The White House warned that the cuts would wreak havoc on the economy, a prediction that never materialized.
A two-year budget compromise at the end of 2013 partially rolled back the mandatory cuts, but they are slated to return unless lawmakers reach a new spending deal.
Obama will officially unveil his budget on Monday, which is expected to call for a 7 percent hike in federal spending in fiscal 2016.
Republicans have already called the proposal dead on arrival, as it relies on $320 billion in tax increases over the next decade.
Obama will also use his remarks to Democrats on Thursday to pressure Republicans to fully fund the Department of Homeland Security. Conservatives are attempting to unite behind a plan that rolls back Obama’s unilateral deferral of millions of deportations, while not jeopardizing the agency’s work to protect the homeland.
“With House Republicans declaring this week that a funding lapse for the Department of Homeland Security is ‘not the end of the world,’ the president will join the Democrats in Congress in vehemently opposing that dangerous view and calling for a clean funding bill to ensure we are funding our national security priorities in the face of cybersecurity and security threats abroad,” the White House official said.
Obama is calling for $530 billion in spending on the non-defense discretionary side, an increase of $37 billion over current limits. The president’s budget also proposes $561 billion in defense spending above set levels, an increase of roughly $38 billion, the White House said.
My comments: Obama has SPENT America into OBLIVION and he wants to SPEND MORE! He is like a drug addict that cannot get enough. In doing so he defies Logic and Common sense. He has already SPENT THE FUTURE of the next generation.
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