A Budget Battle

Paper Summary:

In this article, the writer discusses the budget plan proposed by President Obama and approved on April 2, 2009 by the House and Senate with a 233-196 and 55-43 vote, respectively. The writer first notes that this is a plan which has been strongly opposed by the Republicans and that opponents to the budget argue that it will inevitably cause higher taxes and lead the U.S. into financial collapse. In this essay, the writer explains firstly why most Republicans in Congress oppose the President's plans and fear the deficit created by his budget. Further, the writer explains the belief that that the Obama budget plan will eventually work for the U.S. economy. Color charts are included with the paper.

From the Paper:

"However, without the stimulus package, the economy will not recover and might create an even bigger deficit as there will be not enough income in taxes with many Americans being unemployed. If the economy is in a trough, as of right now, the government can help to return to growth through fiscal and monetary policies. Furthermore, this budget will hopefully lead to a broad change that will better health care, reduce dependence in oil and improve education.
"It is inevitable, that the U.S. deficit as a share of the GDP will increase as the stimulus package is implemented. Throughout the presidency of Mr. Bush, the U.S. debt has almost doubled: from $5.7 trillion to over $10.7 trillion."

Sample of Sources Used:

• Burney, Teresa. "Pros and Cons of Obama's Budget for Builders." Builder. (2009): 3-5. April 17 2009. <http://www.builderonline.com/legislation/pros-and-cons-of-obamas-budget-for-builders.aspx>.
• Espo, David and Taylor, Andrew. "Obama's Budget Vote." The Huffington Post. (2009) 4-2. April 16 2009. <http://www.huffingtonpost.com/2009/04/02/obamas-budget-vote-poised_n_182185.html>.
• Ferrara, Peter. "GOP Warns of Obama Budget and What It Will Cause." The Liberal Democrat. (2009): 3- 29. April 16 2009. <http://theliberaldemocrat.com/?p=1719>.
• Foster, J.D. "Tax Cuts, Not the Clinton Tax Hike, Produced the 1990s Boom." The Heritage Foundation. (2008): 3-4. April 17 2009. <http://www.heritage.org/research/taxes/wm1835.cfm>.
• Gibson, William E. "Budget Battle Turns Into Test of Obama's Strength." SunSentinel.com. (2009) 3-29. April 16 2009. <http://www.sun-sentinel.com/news/nationworld/sfl-flabudget0329sbmar29, 0,7341478.story>.

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