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

Video Experts Warn World Losing Ebola Fight

Doctors Without Borders says world is losing battle against Ebola, unless wealthy nations dispatch specialized biological disaster response teams More

Video Experts: Rise of Islamic State Significant Development in Jihadism

Many analysts contend the group - which grew out of al-Qaida in Iraq - has been rebuilding for years More

US-Based Hong Kongers Pledge Support for Pro-Democracy Activists

Democracy advocates call on Chinese living abroad to join them in opposing new election rules for their home territory 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.
Larger Than Life Chinese Lanterns Make Southern California Appearancei
X
Elizabeth Lee
September 02, 2014 8:57 PM
Chinese lanterns with a long history are lighting up in 21st century style at the Los Angeles County Fair in southern California. Visitors can see traditional lanterns that hang, but also lanterns in the shape of animals, iconic landmarks and many other objects, all created by artisans from a place in China known for its lanterns. Elizabeth Lee has the details from the fair in the city of Pomona.
Video

Video Larger Than Life Chinese Lanterns Make Southern California Appearance

Chinese lanterns with a long history are lighting up in 21st century style at the Los Angeles County Fair in southern California. Visitors can see traditional lanterns that hang, but also lanterns in the shape of animals, iconic landmarks and many other objects, all created by artisans from a place in China known for its lanterns. Elizabeth Lee has the details from the fair in the city of Pomona.
Video

Video Experts See Rise of ISIS as Significant Development

The Islamic State’s rise seems sudden. It caught the U.S. by surprise this summer when it captured large portions of northern Iraq and spread its wings in neighboring Syria. But many analysts contend that the group - which grew out of al-Qaida in Iraq - has been rebuilding for years. VOA's Jela de Franceschi takes a closer look at the rise of ISIS and its implications for the Middle East and beyond.
Video

Video Israel Concerned Over Syrian Rebels in Golan

Israeli officials are following with concern the recent fighting between Syrian rebels and government forces near the contested Golan Heights. Forty-four U.N. peacekeepers from Fiji have been seized by Syrian Islamist rebels and the clashes occasionally have spilled into Israel. VOA’s Scott Bobb reports from Jerusalem.
Video

Video Ukraine Schools Resume Classes, Donate to Government Forces

A new school year has started in Ukraine but thousands of children in the war-torn east are unable to attend because of ongoing clashes with pro-Russia rebels. In Ukraine's capital, patriotic education has become the norm along with donations to support injured security forces fighting to take back rebel-held areas. VOA's Daniel Schearf reports from Kyiv.
Video

Video US Detainees Want Negotiators for Freedom in North Korea

The three U.S. detainees held in North Korea were permitted to speak with foreign media Monday. The government of Kim Jong Un restricted the topics of the questions, and the interviews in Pyongyang were limited to five minutes. Each of the men asked Washington to send a representative to Pyongyang to secure his release. VOA’s Carolyn Presutti has our story.
Video

Video Turkmen From Amerli Describe Survival of IS Siege

Over the past few weeks, hundreds of Shi'ite Turkmen have fled the town of Amerli seeking refuge in the northern city of Kirkuk. Despite recent military gains after U.S. airstrikes that were coordinated with Iraqi and Kurdish forces, the situation remains dire for Amerli’s residents. Sebastian Meyer went to Kirkuk for VOA to speak to those who managed to escape.
Video

Video West Africa Ebola Vaccine Trials Possible by Early 2015

A U.S. health agency is speeding up clinical trials of a possible vaccine against the deadly Ebola virus that so far has killed more than 1,500 people in West Africa. If successful, the next step would be a larger trial in countries where the outbreak is occurring. VOA's Carol Pearson has more.
Video

Video Survivors Commemorate 70th Anniversary of Nazi Liquidation of Jewish Ghetto

When the German Nazi army occupied the Polish city of Lodz in 1939, it marked the beginning of a long nightmare for the Jewish community that once made up one third of the population. Roughly 200,000 people were forced into the Lodz Ghetto. Less than 7,000 survived. As VOA’s Kane Farabaugh reports, some survivors gathered at the Union League Club in Chicago on the 70th anniversary of the liquidation of the Lodz Ghetto to remember those who suffered at the hands of the Nazi regime.

AppleAndroid