Posts tagged: budget deficit
President Obama's 2011-12 budget proposal continues down an “unsustainable path” of spending too much, taxing too much and borrowing too much, Idaho senior Sen. Mike Crapo said this morning. “This budget simply moves the money around, with no measurable reduction in the overall size of government,” said Crapo, R-Idaho, a member of the president's bipartisan commission on the debt and the deficit. “This is not only out of step with the priorities of the American people, but it fails to recognize the realities that the president’s own colleagues in Congress have begun to recognize.” According to the Associated Press, Obama's $3.73 trillion budget calls for a $1.65 trillion deficit this year and another $1.1 trillion deficit next year/Kevin Richert, Idaho Statesman. More here.
Question: Do you agree/disagree with U.S. Sen. Mike Crapo that the deficits President Obama proposes in the next two years are 'unsustainable'?
WASHINGTON (Reuters) – President Barack Obama said on Wednesday he expected a robust debate with Republicans next year on the need to cut spending but was encouraged by the climate of compromise that led to a string of recent legislative victories.
When Obama returns to Washington from a Christmas break in Hawaii, he will face tough fights over reducing government spending, tackling record $1.3 trillion U.S. budget deficit and reforming the tax code with Republicans who will take control of the House of Representatives and gain strength in the Senate. Read more.