Monday, February 14

President Obama's Budget out today

At 12:15 today, OMB Director Jack Lew and CEA Chairman Austan Goolsbee will discuss the White House Budget in the South Court Auditorium of the Eisenhower Executive Office Building.

This will be the second phase of the budget discussions for today as the President is slated to deliver remarks on education and outline his key budget priorities during a visit to Parkville Middle School at around 10:30 this morning.

Reports have the budget at the $3.7 Trillion range.

This will undoubtedly set off a chain reaction that will have politicians amped up and out in public screaming about the scale of the budget.

The budget that the President will outline, plans for a reduction of the deficit by $1.1 Trillion over a 10 year span.

Republicans are already calling this to little of a reduction.

The current projected deficit stands at $1.6 Trillion or 10.9% of the GDP, up from the previously forecast $1.4 Trillion.

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