UPDATE (9:00 a.m. ET 3/5/14): Republicans and anti-deficit groups have slammed the president's proposed budget. Republicans say the proposal is little more than a tool for Congressional elections this November, while deficit hawks are dismayed by the tax-and-spend mentality exhibited in the proposed budget.
UPDATE (11:40 a.m. ET 3/4/14): President Obama's $3.901 trillion budget proposal has been released. It includes more taxes on the rich and an expansion of tax credits for the poor and middle class.
UPDATE (8:15 a.m. ET, 3/4/14): According to the White House President Obama's 2015 budget proposal will include a $60 billion expansion of the Earned Income Tax Credit.
UPDATE (2:39 p.m. ET 2/26/14): The Pentagon's plan to scrap the entire A-10 Thunderbolt fleet is being resisted, with some citing concerns about the effect the move will have on military bases and contractors.
Previous coverage: President Obama is reportedly expected to push for a new $302 billion transportation bill later today, according to Politico, which notes that it’s unclear whether the president will actually “offer a full reauthorization proposal — for the first time in his presidency — or simply a ‘vision.’”
The move appears to be part of Obama’s pre-2014 election push to spend more: not only is his 2015 budget filled with tens of billions of dollars of new spending, any pretense of trying to control the growth of entitlement spending has been dropped.
The president is expected to submit his proposed 2015 budget on March 4th, more than a month after the statutory deadline, which this year was February 3rd.
Coverage from Reason
J.D. Tuccille looks at the president's budget and finds it to be a pricey big government wet dream.