US Budget constraints limit Barack Obama's second-term agenda
- Mad rush, chaos as Arvind Kejriwal takes local train to woo 'aam aadmi' in Mumbai
- SC defers hearing on Sahara's plea on releasing Subrata Roy
- Presidential delay in mercy petitions: SC won't reconsider verdict
- Lalu loyalist-turned rebel Ram Kripal Yadav joins BJP
- IAF aircraft on standby for missing Malaysian Airlines search ops
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.
- Rs 1.28 lakh looted at gunpoint
- Venkaiah Naidu sure of BJP crossing ‘magic figure’ in south India
- AAP candidates truly ‘aam aadmi’: Prithvi Reddy
- Bangalore fund-raiser: Dine with Arvind Kejriwal for Rs 20,000
- AAP sounds Gul Panag about Lok Sabha poll, father says decision soon
- The real high and low: Drunk cop creates ruckus in court, held