US Budget constraints limit Barack Obama's second-term agenda


The White House also tried to shift some highway programs out of the discretionary category, which would have freed up $44.5 billion over a 10-year period. Congress also rejected that idea and opted to fund highway spending with discretionary funds for at least another two years.

Many budget experts expect Congress will ultimately conclude that the spending caps are too severe to work. The drive to cut spending could abate in coming years as well if an expanding economy boosts tax revenues and narrows budget deficits.

But meanwhile, Obama will have few resources to implement his economic vision.

"When I hear an aggressive agenda for investment, given the numbers we're looking at under the Budget Control Act I tend to be highly skeptical," Minarik said.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus