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Obama Defends Budget, but Passes Burden of Entitlement Reform to Congress
By Alex Wagner - Politics DailyIn his first press conference of the new year, President Obama defended his proposed 2012 budget Tuesday, asserting that it "puts us on a path to pay for what we spend by the middle of the decade." But he deferred tackling the looming, long-term deficits caused by entitlement programs such as Social Security and Medicaid, saying that bipartisan cooperation was the necessary first step to any real reform. "If you look at the history of how these deals get done," Obama said, "typically it's not because there's an Obama plan out there. It's because Democrats and Republicans are both committed to ...
Opinion: Living Within Our Means, Investing in the Future
By not in system - AOL NewsToday, President Barack Obama sent to Congress his budget for the 2012 fiscal year. This document is built around the simple idea that we have to live within our means so we can invest in the future. Only by making tough choices to both cut spending and deficits and invest in what we need to win the future can we out-educate, out-build and out-innovate the rest of the world. Carolyn Kaster, AP President Barack Obama and Office of Management and Budget Director Jacob Lew unveil Obama's 2012 budget at Parkville Middle School and Center of Technology, in Parkville, Md., on ...
Obama's Proposed Budget, Possible Spending Cuts, to be Delayed
By Tom Diemer - Politics DailyCall it the law of unintended consequences. President Obama's huge 2012 budget will be delayed for about a week due in part to a "hold" that a Democratic senator had put on the confirmation of Office of Management and Budget Director Jacob Lew. The budget for the fiscal year beginning next Oct. 1 won't be released until mid-February, the Washington Post reports, a week past the deadline specified by the 1974 Budget Act. No one will be penalized. The budget is a planning document, which could approach $4 trillion and will be hashed over for months by the spending and authorizing committees in ...
Unemployment Epidemic May Be Here to Stay
By Joseph Schuman - AOL News
ANALYSIS (Dec. 3) -- The dissatisfying job numbers for November don't just represent one bad month of meager payroll expansion and snowballing unemployment. They paint the picture of a sputtering economy still so weak nearly a year and a half into a recovery that long-term high unemployment seems an increasingly likely prospect. And they do so at a time when Democrats and Republicans in Washington seem no closer to bridging their differences on how to improve the situation. Charles Dharapak, AP Vice President Joe Biden, center, Treasury Secretary Timothy Geithner, left, and Budget ...
Jacob Lew Confirmed as Budget Director After Mary Landrieu Drops 'Hold'
By Tom Diemer - Politics DailyNothing much comes easy for this White House. Four months after Jacob Lew was nominated -- amid predictions that he would be quickly confirmed -- the Senate finally gave him the go-ahead Thursday as director of the Office of Management and Budget. His confirmation had been stalled, in part, due to a "hold" on it by Sen. Mary Landrieu (D-La.), who was protesting something that had nothing to do with Lew -- the Obama administration's moratorium on deep-water drilling in the Gulf of Mexico. The moratorium was lifted on Oct. 13, so Landrieu did not object when Lew's nomination sailed through on a ...
Senate Confirms Obama's Pick for Budget Director
By not in system - AOL NewsWASHINGTON (Nov. 18) -- President Barack Obama's choice for budget director won Senate confirmation Thursday after a senator ended her protest over the administration's moratorium on deepwater oil and gas drilling in the Gulf of Mexico. The Senate confirmed by voice vote Jacob Lew as director of the Office of Management and Budget. A deputy secretary of state, Lew served as budget director for nearly three years in the Clinton administration. Obama nominated Lew last July after Peter Orszag resigned. Sen. Mary Landrieu, D-La., had held up his confirmation to protest the six-month moratorium ...
Obama Administration Lifts Gulf Drilling Ban
By Joseph Schuman - AOL News
(Oct. 12) -- The Obama administration today announced an early end to the moratorium on deepwater oil drilling off American shores, but it has added tough safety rules for the drilling companies and a regime of government tests that could delay the start of new operations for weeks or months. The drilling ban had been put in place following the April 20 explosion at a BP well in the Gulf of Mexico and was set to end Nov. 30. But Interior Secretary Ken Salazar said the moratorium would end sooner because the government was satisfied with its new oil and gas safety reforms, the improved state ...
Bill Clinton and Warren Buffett: Business Boosters for Obama
By Alex Wagner - Politics DailyIn a sign of the increasingly hostile relationship between the private sector and the Obama administration, the U.S. Chamber of Commerce on Wednesday sent an open letter to the president (as well as to Congress and the American people), blasting those in leadership for "taking their eyes off the ball," "neglecting America's number one priority," and "vilifying industries while embarking on an ill-advised course of government expansion, major tax increases, massive deficits and job-destroying regulations." In sum, the chamber concluded, "Policymakers are needlessly prolonging economic agony" ...
Obama's Budget Chief Pick Has Work Cut Out for Him
By Joseph Schuman - AOL NewsANALYSIS (July 13) -- Jacob Lew isn't just being tasked with balancing a budget some $1 trillion in the red. President Barack Obama's pick to be the new federal budget chief will also have to balance political demands to fund economic stimulus and job creation against political worries about runaway deficits. Obama said today he will nominate Lew to succeed Peter Orszag, the departing director of the Office of Management and Budget. If confirmed by the Senate, Lew will be charged with turning around a deficit that exceeded $1 trillion for the first nine months of the government's fiscal ...
Obama Names Clinton Aide Jacob Lew as Budget Director
By Tom Diemer - Politics DailyPresident Obama named former Clinton administration budget chief Jacob J. Lew Tuesday as director of the White House Office of Management and Budget, an assignment that comes with a trillion dollar-plus deficit. "Jack" Lew, who succeeds Peter Orszag at OMB, has worked for both Clintons. Under then-President Bill Clinton, he ran the budget office between 1998 and 2000, an era that saw balanced budgets and surpluses, one year reaching $237 billion in the black. He currently serves as deputy secretary of state for management and resources -- essentially, the chief operating officer for Secretary ...
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