So Much for Obama’s ‘Honest Budget’
Democrat Budget Committee Chair: Obama Underestimates Deficit by $1.6 Trillion
This seems to be more than a rounding error:
U.S. Senate Budget Committee Chairman Kent Conrad said on Thursday he expects federal deficit spending will be about $1.6 trillion greater over the next ten years than President Barack Obama’s budget plan forecasts.
Obama submitted his budget outline to Congress last month which forecast almost $7 trillion in deficits through 2019, however a worsening economic picture is expected to make the budget outlook darker.
Conrad told reporters that the additional $1.6 trillion over the next decade was based on projections of the Democratic majority’s budget committee staff.
Senate Democrats who initially praised Obama’s budget seem angry to learn over time, that it’s full of rosy assumptions, budget gimmicks, and unpopular legislative initiatives. Conrad seems almost eager to rain on Obama’s parade – going so far as to oppose the White House effort to block filibusters of health care and cap-and-trade:
Conrad also said he did not plan to include any instructions in the budget plan he is crafting for health care or the greenhouse gas initiatives. Such instructions written into the budget would give it a privileged status and make it easier to become law, but likely spark a nasty fight with minority Republicans.
Have Conrad and other key moderates decided that their political interests are best served not by expediting the Obama agenda, but by limiting it?