Statement on President Obama’s Fiscal Year 2016 Budget
February 02, 2015
There's a lot to like about the President's budget. It boosts investments across a number of starved areas that create economic growth and middle class prosperity. It deepens the debate toward rebalancing the tax code by asking those at the very top to contribute more to the nation's success. It increases defense spending as our nation faces complex and evolving threats around the globe. But it treads too lightly on mandatory spending which is on a far faster trajectory than any part of the federal budget, is the prime culprit for ballooning long range deficits, and is drowning out public investments in growth, children, research, infrastructure, and technology. Dealing forthrightly with mandatory spending programs is the most difficult part of any budget. The President, to his credit, does take some steps in the right direction. But he did not go far enough, particularly on reducing waste in the health care system. Because of that, he missed the opportunity to demonstrate to all Democrats that in order to fund the priorities we all hold dear, we also need to shore up areas that need reform. In sum, the budget is a step forward on investments, but a step sideways on entitlements.
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