Obama Releases Details of $3.4 Trillion Budget Plan

[steven johnson]

Source: Washington Post,

Thursday, May 7, 2009; 4:02 PM

The Obama administration today unveiled program details of a $3.4 trillion federal budget for the fiscal year beginning in October, a proposal that includes substantial increases for a number of domestic priorities as well as a plan to trim or eliminate 121 programs for a savings of $17 billion.

In a statement delivered at the White House after the budget details were released, President Obama defended the cuts from critics on both sides -- those he said would fight to preserve the targeted programs and others who consider the reductions insignificant.

"We can no longer afford to spend as if deficits don't matter and waste is not our problem," he said. "We can no longer afford to leave the hard choices for the next budget, the next administration -- or the next generation."

Although many government employees do valuable, thankless work, Obama said, "at the same time, we have to admit that there is a lot of money that's being spent inefficiently, ineffectively and, in some cases, in ways that are actually pretty stunning." He cited several examples, including a $465 million program to build an alternate engine for the Defense Department's joint strike fighter, a program that Pentagon brass neither wants nor plans to use.




Read more: http://www.washingtonpost.com/wp-dyn/content/article/2009/05/07/AR2009050702001.html?wprss=rss_business