President Obama’s $3.8 trillion budget for the federal government landed on Capitol Hill on February 1 with proposed spending cuts and freezes, increases for defense and homeland security spending, and a new jobs plan – along with a projected deficit of 1.55 trillion for this year. Some say that spending freezes could be dangerous while the economy is still recovering from crisis, but others argue much more must be done to tame growing debt and long-term deficits.
On Wednesday, February 3, Isabel Sawhill discussed the release of the federal budget and what it will mean for the coming fiscal year in a live web chat moderated by POLITICO’s senior editor Fred Barbash.
Read the transcript »