Obama Unveils $4.1 trillion Budget
Posted by admin | 8 years ago | 2,305 times
US President Barack Obama has unveiled $4.1 trillion last budget of his presidency, a plan that is dead-on-arrival in Congress but could shape the 2016 White House race.
Legislatively, the future looks bleak for Obama’s 2017 fiscal plan, which covers spending on everything from cyber security to the environment.
It includes big-ticket investments in America’s creaking infrastructure — to the tune of $320 billion over the next decade — and ramps up research into clean energy technologies and cancer.
But Republicans who control Congress have already vowed to draft their own plan, “rather than spend time on a proposal that,” according to House Budget Committee Chairman Tom Price, “will double down on the same failed policies.”
Adding insult to White House injury, spending announcements that would have made waves in the first year of Obama’s administration are likely to quickly dissolve into saturation coverage of the New Hampshire presidential primary, which also takes place Tuesday.
Still, the budget provides Obama with one of his few remaining opportunities to fashion national and Democratic party priorities.
Obama said the budget was a statement of intent, saying it would invest in innovation and strengthen national security
“The budget that we are releasing today reflects my priorities and the priorities that I believe will help advance security and prosperity in America for many years to come,” he said.It is chock-full of measures designed to wean the United States off fossil fuels, including a $10-a-barrel levy on crude.A “computer science for all” program would give schools $4 billion to teach a “new basic skill” and help modernize workforce skills.Looking farther afield, the proposal will include $7.5 billion — a 50 percent increase from the previous year — to fund the campaign against the Islamic State group.That includes $1.8 billion to pay for over 45,000 more GPS-guided smart bombs.The budget would also invest more than $19 billion in cyber security, a 35 percent jump designed, Obama said, to tackle the issue “in a more aggressive way.”“Cyber threats pose a danger not only to our national security, but also our financial security and the privacy of millions of Americans,” Obama said.
An additional $4.3 billion would be spent on “countering Russian aggression and support European allies.”
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