A Quote by Christina Romer
The right way to deal with a budget problem that was years in the making is by formulating a credible plan to reduce the deficit over time and as the economy is able to withstand the necessary fiscal belt-tightening. That is what President Obama is doing.
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In the budget, the president will call for a five-year freeze on discretionary spending other than for national security. This will reduce the deficit by more than $400 billion over the next decade and bring this category of spending to the lowest share of our economy since Dwight Eisenhower was president.
Pennsylvania is facing challenging economic times, a multi-billion dollar budget deficit, and negative cash flow projections. My Budget Deficit and Fiscal Stabilization Task Force will get to work to determine the scope of the challenges facing Pennsylvania and begin to discuss how we can get Pennsylvania's fiscal house in order.
We cannot win the future, expand the economy and spur job creation if we are saddled with increasingly growing deficits. That is why the president's budget is a comprehensive and responsible plan that will put us on a path toward fiscal sustainability in the next few years - a down payment toward tackling our challenges in the long term.
The administration's reckless plan doesn't do one thing to ensure the long term security of social security, rather it undermines our economy. We need a budget and a fiscal policy that reflects the values and interests of America and restores fiscal discipline.
As Vermont's senator and a member of the Budget Committee, I will not support a plan to reduce the deficit that does not call for shared sacrifice.
I served at a time when we had a strong economy, when we had deficits that we would die for today. I was able to propose a balanced budget, not over ten years, but over five years. I'm proud of that record.
Mr. Obama denounced the $2.3 trillion added to the national debt on Mr. Bush's watch as 'deficits as far as the eye can see.' But Mr. Obama's budget adds $9.3 trillion to the debt over the next 10 years. What happened to Obama the deficit hawk?
The [budget] deficit isn't the immediate problem for most people, the weak economy is.
Because of President Obama's failed record on nearly every issue from the economy to the deficit to Medicare, the Obama campaign has become increasingly dirty, despicable, and desperate.
The country didn't get that way in a week; we've had years and years of getting behind in our economy. So President [Barack] Obama stepped into a hellhole and people wanted him to change it as soon as he came in. But he's got his adversaries to deal with in the House and Senate, so it's not easy.
One wonders whether the Obama re-election campaign may be on the right track as it seeks to apply the you-break-it-you-own-it rule to Bush and the American economy. Hardly a day goes by without President Obama or his surrogates arguing that it takes longer than four years to recover from an economic crisis so long in the making.
If you're running for president, you've got to do a lot of things to line up a candidacy. I've not done any of those things. It's not my plan. My plan is to be a good chairman of the House Budget Committee and fight for the fiscal sanity of this nation.
And again, President Obama's health care plan really is another drag on the economy. Until we get Washington out of the way, this president's recovery is going to continue to rank dead last.
President Obama is the kind of politician who puts promises on the record, and then calls that the record. But we are four years into this presidency. The issue is not the economy as Barack Obama inherited it, not the economy as he envisions it, but this economy as we are living it.
This is the first time a newly inaugurated president has had any impact on a current budget." What that means is that normally when a president's inaugurated in January, the budget for the first calendar year of his term or the first nine months is already done. So from January 21st all the way 'til October when the new budget's done, the president has to deal with the previous Congress' budget and has nothing to say about it. What they're saying is that Donald Trump has had a record-breaking, never-before-seen thing by having an impact on the budget in his first year.
We look a little bit disorderly, indecisive, leaderless. That's a real problem, and that's a problem that concerns me particularly on foreign affairs. The presidency, not just President Obama, but the presidency in recent years has lost some of the terrain that they used to dominate in the making of foreign policy. I think President Obama has to make a serious effort to regain it because he lost some of it himself.
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