News
Wall Street Journal | Obama to Detail Nearly $4 Trillion Budget for Fiscal 2016
President Barack Obama on Monday will lay out the details of a nearly $4 trillion fiscal 2016 budget aimed at improving the nation’s infrastructure and boosting middle-class Americans, but at a cost of tax increases and spending above caps set in a bipartisan deficit-reduction agreement.
Econ Comments & Analysis
Market Watch | Obama bets that worries about budget deficits are fading
President Barack Obama is betting that Americans prefer “middle-class economics” to reducing the federal deficit.
Real Clear Markets | Voters Expect the GOP To Actually Reduce Spending
President Obama is supposed to send his budget proposal to Congress today and the word is that he wants an increase of $74 billion in discretionary spending above the sequester level that is the current legal baseline for spending. This would be a seven percent increase above current levels. While seven percent sounds like a very large increase, the $74 billion might not sound all that large. However, it is only the tip of the iceberg.
