February 08, 2016

Obama’s $4 trillion budget already fails laugh test in Congress

By Jerry Hendrix

Source: Washington Times

Journalist(s) Dave Boyer

President Obama will submit a high-spending “wish list” budget to Congress on Tuesday for fiscal 2017, and he is already wishing someone would take it seriously.

Freed of spending caps that had him chafing for years, Mr. Obama is proposing a roughly $4 trillion budget devoted to making up for the lost time under sequestration by boosting expenditures on his priorities such as clean energy research, which would double over three years to $12.8 billion.

To pay for that program, the president would charge a $10-per-barrel tax on oil, which could increase the cost of gasoline by 25 cents per gallon.

Republicans are rejecting the oil fee proposal outright, and even leading Democrats such as Hillary Clinton and Senate Minority Leader Harry Reid of Nevada haven’t endorsed the idea.

Read the full article at Washington Times.

  • Jerry Hendrix

    Senior Fellow and Director, Defense Strategies and Assessments Program

    Jerry Hendrix is a Senior Fellow and the Director of the Defense Strategies and Assessments Program at the Center for a New American Security. A retired Captain in the United...