President Obama sent his Budget for Fiscal Year 2014 to Congress Wednesday morning. When addressing the press about his proposal – the President said that while our economy is poised for progress – we need to get smarter about our priorities as a nation. According to President Obama – his budget represents a fiscally-responsible blueprint for middle-class jobs and growth. The President’s budget replaces across-the-board spending cuts with long-term reforms and the elimination of waste and programs that are no longer needed. The budget also incorporates the compromise offer made to House Speaker John Boehner to achieve 1.8-trillion dollars in deficit reduction in a balanced way. It’s noted on the White House website that when combined with the deficit reduction already achieved – this would exceed the goal of four-trillion dollars in deficit reduction – while growing the economy and strengthening the middle class.
House Agriculture Committee Chairman Frank Lucas says the President’s budget includes more tax hikes on hard working Americans and fails to create balance. He says adding an extra layer of tax burdens on Americans will not create economic prosperity. According to Lucas – President Obama needs to realize our country has a spending problem – and only commonsense spending cuts will help solve the nation’s debt disaster. Lucas says the budget recently passed by House Republicans balances the federal government’s checkbook by reducing the deficit 4.6-trillion dollars over the next 10 years. He says it is a plan that will help restore financial stability and create jobs. Lucas says the President should follow their lead and make similar spending cuts to help get our country on the right path.
Source: NAFB News Service