President Obama’s 2015 Budget: How Government Expansion Will Limit Opportunity, Slow Economic Growth, and Erode Financial and National Security
by Romina Boccia, et al.
The Heritage Foundation
April 14, 2014
President Barack Obama revealed his budget request for the 2015 fiscal year on March 4—one month after the legal deadline for the President’s budget proposal. The document outlines the President’s agenda for a government that allegedly will bring “opportunity, growth, and security” through higher federal spending, cuts in the armed forces, more than $1 trillion in tax hikes, and broad government overreach into the affairs of individuals, businesses, and localities. The President’s budget proposal disregards the spending caps set by the Ryan-Murray deal and instead calls for an additional $56 billion in 2015 to finance expensive new programs. The President’s budget never balances, despite $1.2 trillion in new and complicated taxes on an already overburdened economy. The following critiques of the President’s 2015 budget are taken from a Heritage Foundation “Live Analysis” blog.