PrintApril 11, 2013
Battle of the Budgets
On Wednesday President Obama presented his 2014 Budget Proposal -- two months later than required by law. Even the Obama cheerleaders at Reuters glumly confess, "it has little chance of becoming law."
Obama's budget joins two earlier budgets presented last month which also have little chance of becoming law: the House budget authored by Paul Ryan, and a Senate proposal authored by Patty Murray.
Federal budgets present ten-year forecasts in the section known as Summary Tables. No budget is binding for more than one year, but the Summaries give an idea of budget priorities. Here are several important benchmarks:
Obama
Ryan
Senate
"Current Policy"
2014 budget
$3.778 T
$3.531 T
$3.715 T
$3.611 T
2023 budget
$5.660 T
$4.954 T
$5.687 T
$5.765 T
Increase
+$1.882 T
+$1.423 T
+$1.972
+$2.154
% increase
+49.8%
+40.3%
+53.1%
+59.6%
% per year
+4.6%
+3.8%*
+4.8%
+5.4%
10 year...(Read Full Article)
