With the release of the Obama administration’s FY 2014 budget, Brookings experts weigh in on the president’s proposals:
Alice Rivlin, Senior Fellow, member of the President’s Debt Commission:
The President’s budget offers specific proposals for creating jobs and investing in productivity while simultaneously reining in the rising debt. It creates the opportunity to jumpstart serious bipartisan negotiation on how to accelerate the recovery in the context of balanced comprehensive tax and entitlement reform that will put the budget on a sustainable path for the long-run future.
Isabel Sawhill, Senior Fellow and Co-Director of the Brookings Budgeting for National Priorities Project:
This budget begins the difficult process of reallocating funds from more affluent seniors to lower-income families and their children. Much more needs to happen on this front over the coming decade but the President’s proposals to limit spending on Medicare and tax-favored forms of retirement saving for the most affluent, slow the growth of social security benefits for non-vulnerable seniors and invest in Pre-K programs are all steps in the right direction.
Read Sawhill’s related blog post: The President’s Budget: A Good Strategy for Difficult Times
William Frenzel, former House Budget Committee Ranking Member and Brookings Guest Scholar:
It does not pass muster as a Budget because it does not get us where we want to be in ten years. But, as an invitation to Republicans to re-engage in ‘grand bargain’ discussions, it demonstrates real leadership by the President.