President Barack Hussein Obama’s proposed 2011-2012 federal budget vs. the Republican controlled House of Representatives’ proposed budget


First, let’s clarify a few things in relation to the federal budget.

1) The President proposes the federal budget.

2) Congress writes and passes the federal budget.

3) At the present time, the fiscal year begins on October 1 of the current year and continues until September 30 of the next year.

4) President Bush’s first proposed budget was for fiscal year October 1, 2001-September 30, 2002.

5) President Obama’s first proposed budget was for fiscal year October 1, 2009-September 30, 2010.

6) Once a President takes office in January after his election the previous November, he may propose changes to the current budget. However, it is Congress which must approve those proposed changes.

7) IT IS CONGRESS WHICH HAS ULTIMATE CONTROL OF THE FEDERAL BUDGET!!! NOT THE PRESIDENT!!!

This fiscal year—October 1, 2011-September 30, 2012—Congress has two distinct budgets from which to choose. The one proposed by the Republican controlled House of Representatives which primarily attempts to lower the budgetary debt by cutting spending and the one proposed by President Barack Hussein Obama which attempts to lower the budgetary debt by cutting primarily military spending, raising taxes on the wealthiest, and increasing spending in other areas at a slower pace than is presently occurring. I can not analysis each budget in one post. Therefore, I am providing links that provide analysis of each proposed budget.

For President Obama’s budget:

From: Tax Policy Center

http://taxpolicycenter.org/

“Analysis of President Obama’s 2012 Budget

http://www.taxpolicycenter.org/taxtopics/2012-Budget.cfm

(March 21, 2011)
TPC’s analysis of revenue provisions in the president’s 2012 budget describes the proposals and offers distributional tables showing the impact of various provisions.

http://www.taxpolicycenter.org/taxtopics/2012-budget-tables.cfm”

For the House of Representatives’ budget:

http://budget.house.gov/fy2012budget/

At this site, links are provided for PDF files in the following areas:

2011-2012 budget—Contrast in Budgets

2011-2012 budget—Heritage Foundation analysis

2011-2012 budget—Key Facts Summary

2011-2012 budget—Path to Prosperity

Probably, a hybrid of these two distinctly different budgets will eventually be passed since neither party controls all of government. The question is, which of the two will be the more dominant? Or, will a compromise not be reached at all?