News / USA

Obama: Budget Would End Crisis-Driven Decision-Making

Obama Proposes $3.77 Trillion US Budgeti
X
April 10, 2013 6:59 PM
President Barack Obama is proposing a $3.77 trillion U.S. budget, which he said will shrink the nation’s deficit and help generate jobs. As VOA’s Kent Klein reports from the White House, the president called on Republican lawmakers to work with him to bridge their differences.

Watch related report by Kent Klein

President Barack Obama has formally unveiled his budget for the 2014 fiscal year beginning in October, calling it a fiscally responsible blueprint for middle class jobs and economic growth.  But, Republicans have already dismissed the document.

The $3.77 trillion budget is Obama's attempt to move closer to a so-called "grand bargain" he sought in contentious debt and deficit reduction talks with opposition Republicans.

The budget includes $1.8 trillion in deficit reduction over 10 years, adding to $2.5 trillion in savings Obama says has already been achieved, bringing total savings to $4.3 trillion.

President Obama's Proposed 2014 Budget

  • Includes $1.8 trillion of additional budget deficit reduction over 10 years
  • Closes tax loopholes and reduces tax benefits for the wealthiest
  • Includes $400 billion in health savings
  • Includes $1 billion investment to launch manufacturing innovation institutes
  • Provides $50 billion for infrastructure investment
     
Source: White House
Obama said it represents an effort to get smarter about priorities, while maintaining targeted investments to create jobs, grow the economy, and preserve programs important to the middle class, the poor and the elderly.

He also says it seeks to end what he calls short-sighted crisis-driven decision-making.

"For years, the debate in this town has raged between reducing our deficits at all costs and making the investments necessary to grow our economy, and this budget answers that argument, because we can do both.  We can grow our economy and shrink our deficits," said President Obama.

If approved by Congress, at this point highly unlikely, the budget would also replace tens of billions of dollars in mandatory spending cuts that went into effect on January 1.

President Barack Obama's proposed 2014 budget cuts for the Department of State, Homeland Security, and DefensePresident Barack Obama's proposed 2014 budget cuts for the Department of State, Homeland Security, and Defense
x
President Barack Obama's proposed 2014 budget cuts for the Department of State, Homeland Security, and Defense
President Barack Obama's proposed 2014 budget cuts for the Department of State, Homeland Security, and Defense
Obama would close tax loopholes for the wealthy and corporations, and impose a minimum 30 percent tax on people making $1 million or more a year.

The president says he has gone more than halfway to meet concerns of Republicans who have resisted additional tax increases.

House Speaker John Boehner gives Obama some credit for seeking more savings from huge entitlement programs, but says the budget represents another attempt to increase taxes.

"He does deserve some credit for some incremental entitlement reforms that he has outlined in his budget, but I would hope that he would not hold hostage these modest reforms for his demand for bigger tax hikes," said Boehner.

Related video report by Steve Baragona
Obama Proposes Food Aid Overhauli
X
April 11, 2013 2:42 AM
President Obama’s new budget proposes major changes to how the United States distributes international food aid. The administration says its proposal would reach up to 4 million more needy people around the world at no extra cost. VOA’s Steve Baragona has more.
Senate Minority Leader Mitch McConnell said the budget represents the "same old thing" from the president.

"We do not need a budget that piles on tax increase after tax increase," said McConnell. "We need to get government out of the way, so the private sector can actually grow again.  We do not need a budget that spends more money we don't have.”

Obama's proposal to obtain savings by using a new formula to calculate cost-of-living adjustments for Social Security has enraged many Democrats.

Vermont Independent Senator Bernie Sanders said it represents a reversal of a pledge Obama made as a presidential candidate.

"When Barack Obama was running for president in 2008, he said that he would not cut Social Security," said Sanders. "We want the president to remember what he said and not go back on his word."

Obama defended his Social Security offer, and reforms in Medicare, but said any compromise must not come at the expense of Americans relying on such programs.

"I do not believe that all these ideas are optimal, but I am willing to accept them as part of a compromise, if and only if they contain protections for the most vulnerable Americans," said Obama.

The Obama budget will go nowhere without bipartisan compromises on Capitol Hill.  Senate Democrats and House Republicans have their own separate fiscal blueprints.

You May Like

Turkey: No Ransom Paid for Release of Hostages Held by IS Militants

President Erdogan hails release of hostages as diplomatic success but declines to be drawn on whether their release freed Ankara's hand to take more active stance against insurgents More

Audio Sierra Leone Ebola Lockdown May Be Extended

Lockdown, which started Friday, aims to allow health workers to locate hidden Ebola patients, educate others on how to avoid the deadly disease More

US Pivot to Asia Demands Delicate Balancing Act

As the tumult in the Middle East distracts Obama, shifting American focus eastward appears threatened More

This forum has been closed.
Comment Sorting
Comments
     
by: NVO from: USA
April 10, 2013 9:50 PM
Don't you people understand that the Global Elites PLAN is to make you POOR, so you are RELIANT on the regime? Don't you understand that?? New World Order is rising.


by: dwight from: dc
April 10, 2013 9:06 PM
this article is less liberally-biased than most political articles on VOA, which is nice to see, but it still reeks of liberal bias.

here's an example. i pasted the snippet below from a graphic in the article. it has nothing but " support obama" written all over it:



"President Obama's Proposed 2014 Budget

Includes $1.8 trillion of additional budget deficit reduction over 10 years
Closes tax loopholes and reduces tax benefits for the wealthiest
Includes $400 billion in health savings
Includes $1 billion investment to launch manufacturing innovation institutes
Provides $50 billion for infrastructure investment "

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Natural Gas Export Plan Divides Maryland Towni
X
Deborah Block
September 21, 2014 2:12 PM
A U.S. power company that has been importing natural gas now wants to export it. If approved, its plant in Lusby, Maryland, would likely be the first terminal on the United States East Coast to export liquefied natural gas from American pipelines. While some residents welcome the move because it will create jobs, others oppose it, saying the expansion could be a safety and environmental hazard. VOA’s Deborah Block examines the controversy.
Video

Video Natural Gas Export Plan Divides Maryland Town

A U.S. power company that has been importing natural gas now wants to export it. If approved, its plant in Lusby, Maryland, would likely be the first terminal on the United States East Coast to export liquefied natural gas from American pipelines. While some residents welcome the move because it will create jobs, others oppose it, saying the expansion could be a safety and environmental hazard. VOA’s Deborah Block examines the controversy.
Video

Video Fears Ebola Outbreak ‘Beyond Our Capability to Contain’

Each day brings with it new warnings about the deadly Ebola outbreak already blamed for killing more than 2,600 people across West Africa. And while countries and international organizations like the United Nations are starting to come through on promises of help for those most affected, the unprecedented speed with which the virus has spread is raising questions about the international response. VOA's Jeff Seldin has more from Washington.
Video

Video Difficult Tactical Battle Ahead Against IS Militants in Syria

The U.S. president has ordered the military to intensify its fight against the Islamic State, including in Syria. But how does the military conduct air strikes in a country that is not a U.S. ally? VOA correspondent Carla Babb reports from the Pentagon.
Video

Video Iran, World Powers Seek Progress in Nuclear Talks

Iran and the five permanent members of the U.N. Security Council plus Germany, known as the P5 + 1, have started a new round of talks on Iran's nuclear program. VOA State Department correspondent Pam Dockins reports that as the negotiations take place in New York, a U.S. envoy is questioning Iran's commitment to peaceful nuclear activity.
Video

Video Alibaba Shares Soar in First Day of Trading

China's biggest online retailer hit the market Friday -- with its share price soaring on the New York Stock Exchange. The shares were priced at $68, but trading stalled at the opening, as sellers held onto their shares, waiting for buyers to bid up the price. More on the world's biggest initial public offering from VOA’s Bernard Shusman in New York.
Video

Video Obama Goes to UN With Islamic State, Ebola on Agenda

President Obama goes to the United Nations General Assembly to rally nations to support a coalition against Islamic State militants in Iraq and Syria. He also will look for nations to back his plan to fight the Ebola virus in West Africa. As VOA White House correspondent Luis Ramirez reports, Obama’s efforts reflect new moves by the U.S. administration to take a leading role in addressing world crises.
Video

Video Migrants Caught in No-Man's Land Called Calais

The deaths of hundreds of migrants in the Mediterranean this week has only recast the spotlight on the perils of reaching Europe. And for those forunate enough to reach a place like Calais, France, only find that their problems aren't over. Lisa Bryant has the story.
Video

Video Westgate Siege Anniversary Brings Back Painful Memories

One year after it happened, the survivors of the terror attack on Nairobi's Westgate Shopping Mall still cannot shake the images of that tragic incident. For VOA, Mohammed Yusuf tells the story of victims still waiting for the answer to the question 'how could this happen?'
Video

Video Militant Assault in Syria Displaces Thousands of Kurds

A major assault by Islamic State militants on Kurds in Syria has sent a wave of new refugees to the Turkish border, where they were stopped by Turkish border security. Turkey is already hosting about 700,000 Syrian refugees who fled the civil war between the government and the opposition. But the government in Ankara has a history of strained relations with Turkey's Kurdish minority. Zlatica Hoke reports Turkey is asking for international help.
Video

Video Whaling Summit Votes to Uphold Ban on Japan Whale Hunt

The International Whaling Commission, meeting in Slovenia, has voted to uphold a court ruling banning Japan from hunting whales in the Antarctic Ocean. Conservationists hailed the ruling as a victory, but Tokyo says it will submit revised plans for a whale hunt in 2015. Henry Ridgwell reports from London.
Video

Video A Dinosaur Fit for Land and Water

Residents and tourists in Washington D.C. can now examine a life-size replica of an unusual dinosaur that lived almost a hundred million years ago in northern Africa. Scientists say studying the behemoth named Spinosaurus helps them better understand how some prehistoric animals adapted to life on land and in water. The Spinosaurus replica is on display at the National Geographic museum. VOA’s George Putic has more.
Video

Video Iraqi Kurdistan Church Helps Christian Children Cope find shelter in churches in the Kurdish capital, Irbil

In the past six weeks, tens of thousands of Iraqi Christians have been forced to flee their homes by Islamic State militants and find shelter in churches in the Kurdish capital, Irbil. Despite U.S. airstrikes in the region, the prospect of people returning home is still very low and concerns are starting to grow over the impact this is having on the displaced youth. Sebastian Meyer reports from Irbil on how one church is coping.


Carnage and mayhem are part of daily life in northern Nigeria, the result of a terror campaign by the Islamist group Boko Haram. Fears are growing that Nigeria’s government may not know how to counter it, and may be making things worse. More

AppleAndroid