Although President Obama’s $3.8 trillion budget was dead even before it was delivered Monday to Congress, it drew plenty of comment on Capitol Hill.
Democrats praised it for outlining investments in education, transportation, and higher tax rates for the wealthiest of Americans, Republicans criticized the president for failing to offer comprehensive proposals to address the main drivers of the nation’s economic problems: the aging population and the resulting costs associated with entitlement programs including Social Security, Medicare, and Medicaid.
“This is not a fiscal plan to save America. … This is a political plan for the president’s re-election,” said Rep. Paul Ryan, R-Wis., House Budget Committee chairman, whose panel is currently drafting the GOP’s fiscal year 2013 budget, to be unveiled in late March.