Is this morning's Obama budget DOA?
This morning at 10:30 a.m (ET) President Obama will unveil an astounding $3.73-trillion budget for the next fiscal year. Most consider it Dead on Arrival and that it will undergo significant changes as a result of negotiations with the opposite political party.
Politico's Dave Rogers calls it "'long on tough choices, short on final answers." He writes, "President Obama's new budget goes to Congress on Monday in what many hope is only an opening bid before he and Republicans come to the table on a bipartisan deficit reduction plan."
The Wall Street Journal this morning also reports that Obama administration will forecast a record-breaking $1.65 trillion deficit, larger than the $1.48 trillion deficit projected last month by the Congressional Budget Office, and up from last year's $1.3 trillion gap.