Thursday, March 26, 2009

Blue Dog Democrats poised to make Trouble?

House Democrats Slash More Than $100B From Obama's Plan
House budget leaders have sliced more than $100 billion from President Obama's spending plan, and today they unveiled a $3.45 trillion budget blueprint for the fiscal year that begins in October.

Much of the difference comes from a decision by House leaders to jettison Obama's plan to seek more cash for the Treasury Department's financial-sector bailout, a decision that would reduce the projected deficit but not prevent the administration from requesting the money.

The result is a spending plan that would drive the annual deficit to $1.2 trillion next year, compared with $1.4 trillion under Obama's request. Over the next five years, the deficit would fall to just under $600 billion, requiring the nation to borrow $3.9 trillion, compared with $4.4 trillion under Obama's plan.

Like a competing proposal unveiled in the Senate, the House plan would permit lawmakers to pursue Obama's priorities on health care, education and energy only if those initiatives do not increase the deficit. Unlike the Senate, the House is proposing to use a procedural shortcut to push Obama's health-care and education proposals through the Senate without Republican votes. [...]

There are other adjustment's being attempted to the President's budget, too. You can read the rest for the details. I call 100 billion a good start, but it mustn't stop there. More has to be done to bring down the deficit. Not doing that was the mistake of the prior administration, and correcting it should be a priority in the present one.

Also see: Those damn Blue Dog Democrats

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