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Steve McIntosh Report Blog

Budget time in D.C.

Frankly, I’ve been a bit fuzzy on the federal budget process the past few years. The Constitution calls for the annual spending plan to come out of the House and be negotiated with the Senate before it’s sent to the President. But this may be the first time in several years that the Senate proposes a budget.
Last week President Obama sent Congress his proposed budget, with a price tag of 3.77 trillion dollars. Initially, the plan has angered Republicans who are upset by higher taxes, and Democrats upset with cuts to Social Security benefits.
As one American facing possible retirement within a few years, I favor a serious treatment of the entitlements. If that means small adjustments in contributions and benefits, I am on board.
I also question the necessity of increasing taxes when our elected officials can’t seem to slow the growth of spending. If they can’t manage cuts in increases, can we at least get a freeze for a year or two?
Our thought for today is from Katharine Hepburn:
“Without discipline, there’s no life at all.”

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04/16/2013 1:43AM
Budget time in D.C.
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