Obama’s budget plan will get more debt to Americans over the next two years if adopted

Although it seems obvious that Obama is preparing to take on the presidential elections come November with a lot of enthusiasm, his actions and plans for America’s budget seem to suggest the opposite as far as Congressional Budget Office’s estimate is concerned. The CBO’s research and analysis of Obama’s plan left them puzzled as its adoption according to them would invite slightly higher deficits over the course of next two years which would further burden the economy and hence the chances of a full recovery.

Although the long-term view is favorable as it is expected to bring recovery much more tangible close, the uncertainty of the future global and domestic markets can affect the way the long-term positivity is envisioned in the plan. Moreover, the immediate cause of worry for American’s is basic lack of jobs, rise in fuel prices and the like and the budget doesn’t deliver on these short-term requirement providing enough fodder for a heavy-handed Republican criticism come November. The House Budget Committee came out with a harsher criticism of Obama’s budget plan which he thought was short-sighted and would drive the American nation towards further debt crisis.

The Committee which is due to formally advance a budget next week will seek to rid Obama’s budget of its fallacies and shortcomings and present a better managed plan that would not just restore spending discipline and tackle the real reasons and drivers if fiscal debt but also ensure a better and more economically secure country for the future generations. The Committee completely ignoring the long-term positivity in Obama’s budget sought to manipulate the intention behind the plan hinging their comments on the debt ridden short-term view which would only be present for two years and which would in effect help build the economic foundations in a stronger fashion. However, it is expected that since the CBO has come out with antagonizing comments on Obama’s plan, their plan will be anticipatorily hopeful and quite balanced in terms of ensuring long-term as well as short-term benefits to the country.

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