President Obama’s 10-year Strategy…a vison for our future
By Michael Lang on Feb 22, 2009 in OBAMA'S FIRST 100 DAYS
When President Obama signed the $787 billion “stimulus bill,” his detractors complained that it wasn’t far reaching enough and just how was this legislation going to address the problems facing us today.
Well, he has silenced all by the announcement that the Obama administration will devote much of this week to explaining for the first time how it wants to spend trillions of government dollars, but its plans will confront daunting deficits, skeptical experts and lawmakers who are eager to get their own favorite projects funded.
The $787 billion stimulus bill that President Barack Obama signed Tuesday was a warm-up act, an emergency provision aimed at stimulating a moribund economy.
Starting Monday, Obama will take a longer view as he hosts a three- to four-hour "fiscal summit" at the White House that will feature about 100 lawmakers, academic experts and others discussing a range of topics including the outlook for Social Security, Medicare and Medicaid.
"This fiscal summit is to start that conversation. It’s the beginning of a process — really putting out a marker, if you will — that no longer are these issues going to be ignored," said Kenneth Baer, Office of Management and Budget spokesman.
Budget officials described the outline as a 10-year plan, "an honest budget" that avoids the accounting gimmickry seen in past years, such as paying for the Iraq and Afghanistan wars through supplemental budgets and failing to project the long-term costs of tax cuts.
Obama’s first budget also will provide $20 billion a year to handle hurricanes, earthquakes or man-made disasters; in the past, such funds weren’t set aside in advance.
Overall, the plan will budget $2.5 trillion more in spending over 10 years, or about $250 billion more a year, by eliminating such gimmicks.
Congress will take a separate path this week.
Money to pay for most government programs runs out March 6, and lawmakers will consider a $410 billion measure to keep agencies going through Sept. 30, the end of the fiscal year. Details are expected Monday, and votes could come as early as Wednesday.
Budget-watchers see reasons to worry and to hope about the week’s events.
"The very fact that the White House is having a summit just before putting out a budget blueprint tells you they’re serious about long-term plans," said Maya MacGuineas, the president of the Committee for a Responsible Federal Budget, which studies fiscal issues.
There’s a long history of 10-year plans that are little more than wishful thinking, so budget researchers are just as focused on Congress’ spending package, which will involve real decisions now.
There is one thing very different with President Obama’s 10–year plan……….Barack Obama. There is little doubt in this writer’s mind that President Obama has the fortitutde and integrity to see this through as he is a serious man hell bent on serious endeavors with little time for publiciy stunts.
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