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Budget Update: President’s Trillion Dollar Plan Gets Thumbs Up

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To no one's surprise, the majority of Democrats in Congress overwhelmingly voted for President Obama's $3.5 trillion spending plan and as a result allowed it to get a passed by the House of Representative but it's not without some conditions, according to the Washington Post. The House approved a streamlined version of the budget that will curtail some of the Preisdent's spending proposals but allow more money for things like college loans and health insurance. If the Senate leader approves the amended budget, it will then go to the House-Senate conference committee, where the dissemination of the budget across the states starts to happen.

President Obama had this to say about the passing of his budget plan:

"Tonight, the House of Representatives took another step toward rebuilding our struggling economy. This budget resolution embraces our most fundamental priorities: an energy plan that will end our dependence on foreign oil and spur a new clean energy economy; an education system that will ensure our children will be able to compete in the economy of the 21st century; and health care reform that finally confronts the back-breaking costs plaguing families, businesses and government alike. And by making hard choices and challenging the old ways of doing business, we will cut in half the budget deficit we inherited within four years. With this vote comes an obligation to pursue our efforts to go through the budget line-by-line, searching for additional savings. Like the families we serve, we must cut the things we don't need to invest in those we do."

 

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