StanCollender'sCapitalGainsandGames Washington, Wall Street and Everything in Between



Get Ready For GOP Crocodile Tears Over Obama 2014 Budget Delay

28 Mar 2013
Posted by Stan Collender

Get ready for one of the most unusual federal budget spectacles of all time.

First, the Obama fiscal 2014 budget, which this year was supposed to be submitted by February 4th, is now expected to be released on April 8, that is, more than two months late and after the House and Senate adopted their own versions of a 2014 budget resolution. As far as I can tell this is the latest any president has submitted his budget (other than the first one after being elected) since the Congressional Budget Act was signed into law in 1974.

The administration deserves some slack here because of the fiscal cliff and sequestration. At the same time that every White House typically is putting the finishing touches on its budget for the coming year in December, this administration had to deal with the negotiations over the fiscal cliff and the possibility of the across-the-board cuts. This meant that the baseline and economic forecast that normally would have been locked and in place a month earlier was still a moving target at the start of February.

This only excuses some of the delay, however. The White House not getting its budget out sooner, or not requesting that Congress delay its deadlines until its budget was sent to Capital Hill, is hard to fathom.

Second, when the Obama budget is released on April 8, congressional Republicans almost certainly will complain angrily about not getting it in time to consider the president's proposals before they moved ahead with their budget resolutions.

Depending on the language you want to use this will either be spin or BS. The truth is that the GOP will be complaining about not being able to consider a budget that it very likely would have declared dead on arrival and not worthy of being considered in the first place.

C-Span Question

I watched you on C-Span yesterday. I wasn’t able to ask my question. The telephone lines were to busy. I was wondering if anybody has done an analysis on what would happen if we lowed the age of Medicare rather than raise the age. It seems to me that if the Medicare age was lowed to 62, it would put more healthily people in the pool. It might also have a side effect of people drawing their social security at age 62 at a reduced rate.




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