President Releases FY 2017 Budget
President Obama released his FY 2017 budget today. According to CNS News' Terry Jeffrey, the president proposes spending a record $4,147,224,000,000; collects a record $3,643,742,000,000 in taxes; and results in a $503,482,000,000 Deficit. Yes, those numbers are trillions of dollars. He adds:
"The taxing and spending totals would be records in inflation-adjusted dollars as presented by the White House Office of Management and Budget in the historical tables it released today along with the budget."
He includes a copy of Table 1.3, which provides a history of receipts and spending dating back to 1940 with dollars stated in constant 2009 dollars.
In today's Washington Times, Dave Boyer writes, the president's budget "would keep deficits in check only by relying on speculative liberal assumptions of tax increases, immigration reform and economic growth." Boyer goes on to say:
"House Speaker Paul D. Ryan, Wisconsin Republican, called the president’s proposal “a progressive manual for growing the federal government at the expense of hardworking Americans.”
“President Obama will leave office having never proposed a budget that balances — ever,” Mr. Ryan said. “Americans deserve better. We need to tackle our fiscal problems before they tackle us.”
"But the White House said Mr. Obama is still relevant and still has leverage to get most of what he wants from the Republican-majority Congress, as he did last fall.
"Shaun Donovan, director of the White House Office of Management and Budget, said some conservative lawmakers want to “blow up” the agreement by cutting spending below levels outlined in the October deal.
"The question here isn’t a fight between the administration and Republicans,” Mr. Donovan said. “It’s a fight within the Republican Party.”
Finally, at the Washington Free Beacon today, Elizabeth Harrington writes:
Concerned about the federal budget, the deficit, and the national debt? Take a few minutes, and write to one of your Congressional representatives. Contact information is available at the Library of Congress' Thomas (use left-hand column). Taxpayers living in Virginia's Arlington County can contact:
"The president’s final budget, widely considered to be dead on arrival due to the Republican-controlled Congress, projects the nation would face a $27.4 trillion debt in 2026.
"The budget set the actual total debt for 2015 at $18.1 trillion, projecting an increase of $9.3 trillion. When President Obama took office the debt stood at $10.6 trillion.
"The White House budget for fiscal year 2017 includes old and new items of the president’s agenda, including the “Fair Share Tax” on the rich, known as the “Buffett Rule,” and a new tax on oil that would increase taxes by $319 billion over 10 years.
"The $4.1 trillion budget also includes raising the minimum wage, “free community college” for two years, and the hiring of 200 new Bureau of Alcohol, Tobacco, Firearms, and Explosives special agents to “reduce gun violence.”
- Senator Mark Warner (D) - write to him or call (202) 224-2023
- Senator Tim Kaine (D) -- write to him or call (202) 224-4024
- Representative Don Beyer (D) -- write to him or call (202) 225-4376
Remember to ask for a written response, and tell them ACTA sent you.