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Obama delays 2012 budget release

By Reuters
December 29, 2010

President Barack Obama waves from the ninth green at Mid-Pacific County club near where his holiday vacation in Kailua, Hawaii, Tuesday, Dec. 28, 2010. (AP Photo/Chris Carlson)

President Barack Obama, who has pledged to tackle long-term U.S. debt and deficit challenges, will delay the delivery of his fiscal year 2012 budget by about a week until after February 14.

An administration official said on Monday the delay was due to the long time it took for the U.S. Senate to confirm Jack Lew as Obama’s new budget director, and because funding decisions for 2011 went so late into the year.

The Democratic president nominated Lew in July but the appointment was held up in the Senate by Mary Landrieu, a member of Obama’s own party, to protest the administration’s ban on offshore oil drilling imposed after the BP oil spill in the Gulf of Mexico. That ban was lifted in October and Lew was confirmed on November 18.

Republicans and Democrats fought over legislation to keep funding the government until the final days of the last congressional session, and a massive so-called omnibus funding bill was abandoned shortly before Christmas in favor of a compromise bill to keep the government running until early March.

Republicans, who take control of the U.S. House of Representatives in January and increase their votes in the Senate, plan to push for spending cuts.

Obama, who received bold recommendations earlier this month from a bipartisan panel on how to cut the U.S. deficit and rising debts, has said there will be a tough debate on spending priorities and how to overhaul the U.S. tax code.

The U.S. budget deficit for fiscal 2010, which ended on September 30, was $1.29 trillion, according to the U.S. Treasury, down from a record $1.42 trillion in fiscal 2009. The nonpartisan Congressional Budget Office in August projected a $1.07 trillion deficit for fiscal 2011.

Copyright © 2010 Reuters

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3 Responses to Obama delays 2012 budget release

  1. Carl Nemo

    December 29, 2010 at 8:20 am

    As a simple ‘community organizer’ for his ‘boots on the ground’ background, it’s probably too much for he and his ‘advisers’ to tackle waste and fraud in government.

    Here’s a link for them, if they’d care to explore the possibilites of saving “big bucks” for American taxpayers, but I doubt he or his advisers would ever view such a link or even give it credence. Fie on them all! It seems they are hellbent on scuttling the USS America all for the proceeds from an underwriters policy issued by Globalists r’ Us. / : |

    http://hoguenews.com/?p=4834

    Carl Nemo **==

  2. woody188

    December 30, 2010 at 1:30 am

    FYI, the deficit when calculated using accrual accounting rules corporations have to follow, came in at over $2 trillion. The above is the cash budget deficit only which doesn’t include interest on debts or federal benefits payable when they are incurred. It’s a nice trick the government accountants like to use to make it look like we are heading in the right direction when reality is we are just doing more of the same. Thank you Reuters for perpetuating the myth that we are saving money. Uncle Sam appreciates your service.

  3. Prudence

    January 1, 2011 at 7:19 am

    Delay the budget while the fam. is out blowing it ! This is the model of sacrifice ? Yeah, we all love sacrificing so he can play another couple days of gulf! This is ridiculous! This is bizzarro !