CRFB Reacts to the President's FY 2012 Budget
In response to this morning's release of the President's FY 2012 budget, CRFB has published its initial reaction to the President's proposal. We outline some of the positive and negative aspects of the budget, and note where it could have gone further. According to CRFB president Maya MacGuineas:
"This budget fails to meet the Administration's own fiscal target, it fails to tackle the largest problems areas of the budget, and it fails to bring the debt down to an acceptable level. While we can certainly appreciate the difficult political environment in which the budget is introduced, the glaring omission of any significant entitlement reforms and the excessive use of 'fill-in-the-blank' budgeting does not help to advance the conversation," said MacGuineas. "The Administration does have some good proposals in here. Not only are they tough on discretionary spending, but they try to advance the notion of pay-as-you-go by identifying some offsets for perennial budget punts such as the doc fix and AMT patch. But none of these changes go far enough, and spending still rises dramatically under this budget," MacGuineas continued.
Click here to read the full press release. We will be releasing a more detailed analysis of the budget soon, so stay tuned!