President Obama submitted his 2014 federal budget to congress Wednesday morning and by the afternoon he was already defending the $3.7 trillion proposal.
“My budget replaces the foolish across the board spending cuts that are already hurting our economy. And I have to point out, many of the same members of congress who supported deep cuts, are now the ones complaining about them the loudest, “he said.
His spending plan includes cuts in Social Security and Medicare. A tax increases for higher earning Americans. A short-term stimulus package for road and bridge construction aimed at increasing employment.
The plan quickly came under attack from many republicans, but the House Majority Leader John Boehner did praise one thing. “He does deserve some credit for some incremental entitlement reforms that he has outlined in his budget. But I would hope that he would not hold hostage these modest reforms for his demand for bigger tax hikes.”
Senator Charles Grassley was less supportive when he spoke about the budget at his weekly press conference.
“The president is going against what he told the Des Moines Register the week before election that there should be $1 of tax increase for every two-point-five reduction. Now it looks like we are getting more tax increases than we’re getting reduction and expenditures. We have a spending problem.”
The President’s budget is also nine weeks late. By law, the budget is supposed to be submitted the first week of February.