Welcome!

News Feed Item

President's Campaign-Year Budget Plan Is Unlikely To Foster Progress On The Nation's Key Fiscal Challenges

WASHINGTON, March 4, 2014 /PRNewswire-USNewswire/ -- The Concord Coalition expressed disappointment today that President Obama's proposed 2015 budget shifts the administration's focus away from the credible framework he offered last year for comprehensive, bipartisan fiscal reform.

"While there are some positive elements in the President's plan this year, overall it seems to ratify the consensus in both parties that there will be no far-reaching budget deals in the coming year," said Robert L. Bixby, Concord's executive director. "This is a campaign-year document and should be assessed as that."

A proposal last year to switch to a more accurate measure of inflation known as "Chained CPI," for example, has been dropped in this year's budget. Using Chained CPI would save money in Social Security and other federal programs with cost-of-living increases. It would also affect tax brackets, resulting in additional government revenue.

"The budget makes a point of saying that Chained CPI is still on the table for discussion as part of a larger budget agreement, which is positive reassurance that it has not been dropped for substantive reasons," Bixby said. "There is a danger, however, that its omission from the budget could be seen as a step away from the table."

The administration's new budget includes an investment agenda of roughly $400 billion in additional spending over the next 10 years. While the White House deserves credit for suggesting ways to pay for that spending through higher revenues and mandatory spending reforms, it would mean that these provisions would no longer be available to reduce the large federal deficits that are currently projected for the coming decade.

The administration's budget also relies on certain economic and revenue assumptions that are considerably more optimistic than those used by the Congressional Budget Office, the nonpartisan agency that is considered the official score-keeper for analyzing fiscal proposals.

A continued emphasis on fiscal reform is clearly needed. Although the federal deficit dropped sharply last year, under current law deficits are expected to begin rising again after next year -- adding to a federal debt that is already extremely large by historical standards.

An aging population, high health care spending, an inefficient tax code and rising interest costs are key factors in the projected deficits over the next 10 years. Absent substantial changes, the nation's fiscal health will continue to deteriorate after that. That's why fundamental changes are essential in the health care system, the tax code and the nation's big entitlement programs, including Social Security and Medicare.

"The President deserves credit for attempting to restrain some Medicare spending and suggesting tax reforms that would reduce costly provisions in the tax code that favor some individuals and businesses," Bixby said. "The administration's proposals in these areas have the potential to draw bipartisan interest and support, and members of Congress in both parties would do well to consider them."

Elected officials should also consider changes in the budget process so that it focuses more on oversight and long-range planning, and less on pointless brinksmanship over the federal debt limit.

Given this year's elections and the complacency in Washington that seems to have set in concerning the budget, however, such progress on budget issues is likely to be extremely difficult in the year ahead. Strong leadership, a sense of political responsibility and bipartisan compromise will be required. 

A copy of this release can be found on our website at: http://concordcoalition.org/press-releases/2014/0304/presidents-campaign-year-budget-plan-unlikely-foster-progress-nations-key-f

The Concord Coalition is a nonpartisan, grassroots organization dedicated to fiscal responsibility. Since 1992, Concord has worked to educate the public about the causes and consequences of the federal deficit and debt, and to develop realistic solutions for sustainable budgets. For more fiscal news and analysis, visit concordcoalition.org and follow us on Twitter: @ConcordC

SOURCE The Concord Coalition

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Aspose.Total for .NET is the most complete package of all file format APIs for .NET as offered by Aspose. It empowers developers to create, edit, render, print and convert between a wide range of popular document formats within any .NET, C#, ASP.NET and VB.NET applications. Aspose compiles all .NET APIs on a daily basis to ensure that it contains the most up to date versions of each of Aspose .NET APIs. If a new .NET API or a new version of existing APIs is released during the subscription peri...
SYS-CON Events announced today that LeaseWeb USA, a cloud Infrastructure-as-a-Service (IaaS) provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LeaseWeb is one of the world's largest hosting brands. The company helps customers define, develop and deploy IT infrastructure tailored to their exact business needs, by combining various kinds cloud solutions.
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
The best-practices for building IoT applications with Go Code that attendees can use to build their own IoT applications. In his session at @ThingsExpo, Indraneel Mitra, Senior Solutions Architect & Technology Evangelist at Cognizant, provided valuable information and resources for both novice and experienced developers on how to get started with IoT and Golang in a day. He also provided information on how to use Intel Arduino Kit, Go Robotics API and AWS IoT stack to build an application tha...
It’s 2016: buildings are smart, connected and the IoT is fundamentally altering how control and operating systems work and speak to each other. Platforms across the enterprise are networked via inexpensive sensors to collect massive amounts of data for analytics, information management, and insights that can be used to continuously improve operations. In his session at @ThingsExpo, Brian Chemel, Co-Founder and CTO of Digital Lumens, will explore: The benefits sensor-networked systems bring to ...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
SYS-CON Events announced today that Venafi, the Immune System for the Internet™ and the leading provider of Next Generation Trust Protection, will exhibit at @DevOpsSummit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Venafi is the Immune System for the Internet™ that protects the foundation of all cybersecurity – cryptographic keys and digital certificates – so they can’t be misused by bad guys in attacks...
"Tintri was started in 2008 with the express purpose of building a storage appliance that is ideal for virtualized environments. We support a lot of different hypervisor platforms from VMware to OpenStack to Hyper-V," explained Dan Florea, Director of Product Management at Tintri, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
SaaS companies can greatly expand revenue potential by pushing beyond their own borders. The challenge is how to do this without degrading service quality. In his session at 18th Cloud Expo, Adam Rogers, Managing Director at Anexia, discussed how IaaS providers with a global presence and both virtual and dedicated infrastructure can help companies expand their service footprint with low “go-to-market” costs.
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
For basic one-to-one voice or video calling solutions, WebRTC has proven to be a very powerful technology. Although WebRTC’s core functionality is to provide secure, real-time p2p media streaming, leveraging native platform features and server-side components brings up new communication capabilities for web and native mobile applications, allowing for advanced multi-user use cases such as video broadcasting, conferencing, and media recording.
The competitive landscape of the global cloud computing market in the healthcare industry is crowded due to the presence of a large number of players. The large number of participants has led to the fragmented nature of the market. Some of the major players operating in the global cloud computing market in the healthcare industry are Cisco Systems Inc., Carestream Health Inc., Carecloud Corp., AGFA Healthcare, IBM Corp., Cleardata Networks, Merge Healthcare Inc., Microsoft Corp., Intel Corp., an...