What’s In Obama’s $4.15 Trillion Budget?
Although much of the president's budget includes proposals that are dead on arrival in the Republican Congress, ideas such as funding cancer research and opioid treatment could garner bipartisan support in a rancorous election year.
The Washington Post:
Budget Breakdown: What The White House Wants To Spend Money On
President Obama released the final budget proposal of his presidency Tuesday, a $4.15 trillion tax and spending plan that would boost federal government spending by just under 5 percent. The Centers for Disease Control and Prevention, part of the sprawling Health and Human Services Department, is seeking funding boosts for some of the Obama administration’s top priorities. These include an additional $40 million to prevent, detect and control illness and death related to infections caused by antibiotic-resistant bacteria; $10 million more to protect against domestic and global health threats; and $10 million more as part of a government-wide program to prevent drug overdoses. The agency is also seeking $15 million in new funding to improve health and wellness for Native Americans and $30 million in mandatory funding for suicide prevention. The latter is part of the administration’s proposal to boost federal mental health spending by $500 million over two years to improve access to care and prevent suicides. ... Spending for the Health and Human Services Department’s discretionary programs would decrease slightly, to $82.8 billion, down $1 billion from the president’s budget proposal a year ago. (Sun and Goldstein, 2/9)
The New York Times:
Obama’s Last Budget, And Last Budget Battle With Congress
President Obama on Tuesday sent his final annual budget proposal to a hostile Republican-led Congress, seeking $19 billion for a broad new cybersecurity initiative and rejecting the lame-duck label as he declared that his plan “is about looking forward.” The budget for fiscal year 2017, which starts Oct. 1, would top $4 trillion, although only about one-quarter of that is the so-called discretionary spending for domestic and military programs that the president and Congress dicker over each year. The rest is for mandatory spending, chiefly interest on the federal debt and the Social Security, Medicare and Medicaid benefits that are expanding as the population ages. (Calmes, 2/9)
The Associated Press:
Obama Sends Congress Record $4.1 Trillion 2017 Spending Plan
President Barack Obama sent Congress his eighth and final budget on Tuesday, proposing to spend a record $4.1 trillion on a number of initiatives, from a new war on cancer to combating global warming to fighting growing threats from Islamic State militants. ... Obama’s final budget has a playbook filled with ideas sure to appeal to Democrats: A “moonshot” initiative to cure cancer; increasing Pell Grants for college students from low-income backgrounds; renewed incentives for GOP-governed states to join the expanded Medicaid system established under the health care law, and incentives to boost individual retirement accounts. (Taylor and Crutsinger, 2/9)
The Washington Post:
Obama’s Final Budget Proposal Calls For An Almost 5 Percent Spending Boost
President Obama presented the final budget proposal of his presidency Tuesday, a $4.15 trillion package that he is calling “a roadmap to a future that embodies America’s values and aspirations.” The proposal would boost total spending by 4.9 percent, mainly as a result of increases in mandatory programs, most notably Social Security, and a rise in interest payments on the national debt. The president requested only a slight increase, less than 1 percent, in discretionary spending programs overall, although Republicans blasted him for promoting profligate spending. (Mufson, 2/9)
Obama Seeks Tax Hikes On Banks, The Wealthy To Pay For Budget
President Barack Obama’s final budget proposal is a clarion call for Democratic progressivism — a $4 trillion spending blueprint that would pour billions into clean energy, education and Medicaid, and pay for it by raising taxes on big banks and the wealthy. ... The budget boosts spending for Obamacare Medicaid expansion by $2.6 billion over a decade, designed to be an enticement to the 19 holdout states that have yet to take part.
The Washington Post:
Republicans Reject Obama Budget, Facing Spending Fights Of Their Own
Seven years of budget headaches end today for President Obama. But this year’s spending fights are just beginning for the Republican Congress. Congressional Republicans have already announced they will ignore the White House budget released on Tuesday rather than engage in another round of fiscal brinksmanship with the president. (Snell, 2/9)
Corporate Winners Of Obama Budget Still Face Long Odds
Ipsita Smolinski, managing director at healthcare research consulting firm Capitol Street, said it was doubtful the Republican Congress would approve Obama's plan to aid the 19 state governments that passed up an earlier offer to expand the Medicaid program for low-income Americans. Such a plan, she said, would benefit hospital companies including Tenet Healthcare and HCA Holdings and Medicaid insurers such as Centene and Molina Healthcare. More palatable to Congress could be Obama's push for $755 million to jumpstart cancer research. But that level of investment without being more targeted may not benefit any specific firms, given that so many drug and biotech companies are invested in developing cancer therapies. (Krauskopf, 2/8)