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After making progress in reducing homelessness among veterans, the Obama administration is turning to the larger and more complicated challenge of homelessness among families with young children. In his 2017 budget, to be presented on Tuesday, President Obama will propose spending $11 billion over the next 10 years to fight family homelessness, a phenomenon that is closely linked to the dearth of affordable housing in New York and other big cities. Of that amount, $8.8 billion would go to housing vouchers and $2.2 billion to more short-term assistance. In addition to the $11 billion plan, Mr. Obama is proposing discretionary...

In a speech at the Department of Homeland Security, Obama declared that he wants to “replace mindless austerity with smart investments that strengthen America”. Those “smart” investments scattered across a gargantuan $4 trillion budget include a $500 million Green Climate Fund for the Third World and $105 million to help the government build better websites. Obama is fond of putting the word “smart” in front of stupid ideas to make them seem less stupid. The $4 trillion budget is actually as stupid as the new left-wing Greek government elected on a platform of not paying its debts. This new government...

President Barack Obama's fiscal year 2016 budget was unveiled Monday to the American public, along with the Department of Treasury's Greenbook, which provides further explanation and details of the proposals in the president's budget. In truth, the president's budget is really more of a wish list than anything else, but it's a good indication of where the administration is headed. This year's version of the budget includes a number of provisions targeting retirement accounts. That's no surprise, as provisions aimed at retirement accounts have been a regular feature in budgets in recent years. What is a surprise, however, is how...

President Obama has proposed a fiscal year 2016 budget that raises $3.5 trillion in fiscal year 2016 and $45 trillion over ten years. In his budget, he proposes that over the next ten years, tax cuts of $349 billion be accompanied by tax increases of $1.9 trillion, for a net ten year tax increase of $1.6 trillion. The president’s budget would repeal, let expire or limit: the Lifetime Learning Credit; the student loan interest deduction (for new borrowers); Coverdell accounts; and 529 education savings plans. The president’s budget would: triple the maximum Child and Dependent Care Tax Credit (CDCTC); expand...

<p>By Stephen Dinan February 2, 2015 President Obama will escalate the looming Homeland Security shutdown showdown Monday by traveling to the department’s headquarters for a special budget speech, saying more than 100,000 federal employees could be left on the job but without pay if Congress doesn’t pass a funding bill by the end of this month.</p>

Posturing as champion of needed public investments and fairness, President Obama wants new taxes on the overseas earnings of American businesses. ... The United States is virtually alone by taxing the overseas profits of its multinationals when those are repatriated. ... Now the president wants an immediate 14 percent tax levy on those assets to raise about $500 billion and to impose a 19 percent tax on future earnings to finance infrastructure investments. Much of the $2.1 trillion in non-repatriated corporate overseas profits is not parked in foreign bank accounts. Rather, it is already invested by firms like GE and...

WASHINGTON — President Obama presented a budget on Monday that is more utopian vision than pragmatic blueprint. It proposes a politically improbable reshaping of the tax code and generous new social spending initiatives that would shift resources from the wealthy to the middle class. Absent from the plan is any pretense of trying to address the main drivers of the long-term debt — Social Security and Medicare — a quest that has long divided both parties and ultimately proved impossible. The document instead indicates that Mr. Obama, after years of being hemmed in on his fiscal priorities because of politics...

Jason Lange and Howard Schneider, Reuters Feburary 2, 2015WASHINGTON (Reuters) - Beneath President Barack Obama's plan to fight income inequality lies a gloomy view of an economy that is growing slower and creating fewer rewards for its workers than it did in much of the last century. In a budget proposal unveiled on Monday, the White House cut forecasts for an array of economic variables, depicting less growth, weaker inflation and lower interest rates than officials expected only a year ago. This comes despite an unemployment rate that the Obama administration expects to hit the 5.2 percent level considered to...

resident Obama unveiled his fiscal year 2016 budget Monday, a proposal that would spend $3.99 trillion while running a $474 billion deficit. The document will serve as a blueprint for White House policy for upcoming fights with Republicans on immigration, health care, infrastructure, and tax reform. Highlights every conservative should know include:1. Higher SpendingObama's budget would increase spending by $74 billion in 2016 compared to current law, and by $322 billion over the next five years. Federal government spending as a percentage of GDP would rise from 20.3 percent in 2014 to 22.2 percent in 2025.The biggest spending increase items in Obama's budget...

President Obama wants to toss the sequestration agreement he made with Republcians in 2011 and is proposing an increase of at least $68 billion in the FY 2016 budget. As imperfect as it is, sequestration has been partly successful in reigning in government spending. It could have worked better if Congress wasn't always carving out exemptions. But there's no doubt that there are tens of billions of dollars that would have been spent without it. With tax receipts at an all time high, rather than applying that money to reducing the deficit, the president - as every Democratic president...

WASHINGTON -- President Barack Obama reined in funding for restoration of the Great Lakes in his budget released this week, spurring a backlash among environmentalists from Minnesota and a half dozen other states. Obama's budget proposal for fiscal 2015 slashes $25 million from the current funding level for the Great Lakes Restoration Initiative, which has supported dozens of projects in Minnesota aimed at controlling and monitoring pollutants and preserving and restoring fish and wildlife habitats in Lake Superior. The president's budget cuts another $430 million from the Clean Water State Revolving Fund, which helps communities repair wastewater infrastructure to prevent...

Reaction to Obama Budget: Yawns, Spending Increases Won't Fly 08 March 2014 President Obama dropped his fiscal 2015 budget proposal on Congress March 4 to a chorus of yawns and indifference. The budget featured numerous massive new spending proposals — almost none of which are likely to become law — along with proposals for tax increases on “the rich” and fiscally unsustainable deficits through the rest of his presidential tenure. Even establishment press organs received the budget proposals with a reaction along a spectrum from yawns to cynicism about it's deployment as an election year wedge. Zeke J. Miller...

The White House’s 2015 budget proposes spending $5.5 billion next year on an ObamaCare program that Republicans have labeled a “bailout” of the insurance industry. The Affordable Care Act creates a temporary pool of money, known as risk corridors, to pay insurers who enroll a higher-than-expected number of sick patients through 2016. The exchanges appear to be attracting older consumers, who tend to be sicker. The Health and Human Services Department has said that 25 percent of those who had signed up for ObamaCare coverage between October and December were between the ages of 18 and 34. That’s far below...

President Obama's latest budget proposal paints a troubling picture of America's fiscal future. Here's a startling snapshot: -- By 2024, the total national debt would rise from $17.4 trillion to nearly $25 trillion. -- By 2020, U.S. taxpayers would be paying more in interest on the debt than they would on the entire Defense budget. -- By 2017, those interest payments would be bigger than the budget for Medicaid. Despite Democratic claims that President Obama has tackled the deficit, the numbers give a sense of what fiscal hawks -- who have not given up their fight despite an election-year aversion...

President Obama issued a $3.9 trillion budget proposal for 2015 on Tuesday that contains heavy new investments in infrastructure upgrades, education and job training. The package, released about a month late in the wake of a two-year spending plan adopted by Congress and signed by the president in December, received little support in the Republican-controlled House – which is expected to release its own proposal shortly – and may not even get much consideration in the Senate.

Obama has given up seeking a solution to America's financial woes American Way: After nearly six years of back-and-forth with Republicans over America's finances, Barack Obama has signaled that a deal is now beyond his grasp John Avlon 5:25PM GMT 01 Mar 2014 Without a bang or a whimper, all hopes of striking a so-called "Grand Bargain" to put America's public finances on a sustainable track died a quiet death this week. And because cynicism passes for wisdom in Washington, the passing was little lamented. But its death is a loss to the cause of putting America's house in order,...

Obama says he doesn't want to hear about spending cuts By Justin Sink - 10/25/13 04:41 PM ET President Obama told Republicans in Congress that he doesn't want to hear about additional cuts to government programs after the 16-day shutdown. The president said the country can afford to make investments in areas like education, and he noted that the shutdown cut into the economy. “Don't tell me we can afford to shut down the government, which costs our government billions of dollars, but we can't afford to invest in our kids,” Obama said at a school in Brooklyn. “This obsession...

Pelosi: Obama ‘one of the most practically non-partisan presidents’ Posted By Patrick Howley On 9:14 PM 08/02/2013 In Politics | No Comments Democratic House Minority Leader Nancy Pelosi said that President Obama is “one of the most practically non-partisan presidents” that she has ever seen in her career and that he “really is working” to forge a budget agreement. “Here’s the thing — the president is one of the most practically non-partisan presidents I have seen in the White House. I’ve been there since Ronald Reagan, and he really is working to try to get some bipartisan agreement. They’ve been...

And, there's more pain on the horizon, Obama warned: "These cuts are scheduled to keep falling across other parts of the government that provide vital services for the American people." Then, Obama declared that the only way to avoid more sequester pain is to pass his budget: "There is only one way to truly fix the sequester: by replacing it before it causes further damage. "A couple weeks ago, I put forward a budget that replaces the next several years of these dumb cuts with smarter cuts; reforms our tax code to close wasteful special interest loopholes; and invests in...

In his weekly address, Pres. Obama threatened Americans with more sequester “pain” if they don’t convince Congress to pass his budget. First, Obama exploited the sequester’s effect on children, the elderly, and airline travelers … And, there’s more pain on the horizon, Obama warned: “These cuts are scheduled to keep falling across other parts of the government that provide vital services for the American people.” …