President Barack Obama is releasing his budget on Groundhog Day. You remember Bill Murray in the “Groundhog Day” movie, reliving the same day over and over?
President Obama was stuck in a routine, too. Year after year, his budget bowed to sequestration cuts. “There was the same script over and over again, where he was trying to put out a budget to meet the Republicans halfway,” says Mike Konczal, a fellow at the progressive Roosevelt Institute.
He says this year, President Obama is departing from the script. In fact, in an op-ed in the Huffington Post, the President says his budget “will fully reverse the sequestration cuts.”
Konczal is delighted. “Yeah, I think it’s a great move,” he says. But even some Democrats say President Obama may be going a bit too off-script, and could risk alienating voters worried about the deficit.
“There are limits as to how far down the President can go down this road without incurring some political risks,” says Bill Galston, a former Clinton White House official and senior fellow at the Brookings Institution. And the budget, of course, is mainly a political road map. No one expects Congress to approve it.
We’re here to help you navigate this changed world and economy.
Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.
In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.
Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.