Obama’s Spending Plans May Pose Political Risks
Posted by Sophist in Business News, PoliticalConcern Mounts in White House as 2010 Elections Loom
By Scott Wilson
Washington Post Staff Writer
Sunday, June 14, 2009
After enjoying months of towering poll numbers, legislative victories and well-received foreign policy initiatives, the White House has become increasingly concerned that President Obama’s spending plans, which would require $9 trillion in government borrowing over the next decade, could become a political liability that defines the 2010 midterm elections.
The concern was reflected in the aggressive response from administration officials to criticism that money from Obama’s stimulus plan is arriving too slowly to help the languishing economy, as well as in the president’s public endorsement of “pay as you go” legislation, which would require Congress to make room for new non-discretionary spending with equivalent cuts to other parts of the budget. Yesterday, Obama also outlined billions of dollars in savings that would be used to pay for his health-care reform proposal. Read the rest of this entry »


Entries (RSS)