Nonsequitur: Senate Passes Budget After 4 years

March 23, 2013

The good news is that the US Senate finally met their Constitutional mandate and passed a budget.   The bad news is that it relies heavily on $975 billion in new tax revenues, but does not cut spending.  It focuses on slowing debt growth, rather than reducing debt, and includes a large deficit in the final year of the budget.

Normally, the White House also offers a budget, and all three are “reconciled” through negotiations.  But the Obama administration has announced their budget won’t be ready until April.  The Senate leadership has promised to work with the House on reconciliation anyway.  The House passed their budget earlier this month.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: