"...President Obama’s proposed 2012 budget and the discussion in Congress represent a starting point to begin addressing our nation’s fiscal challenges. Both parties need to go much further.
The real threat to America’s long-term economic future is not short-term discretionary spending, but the long-term structural deficits that result in massive interest costs that would burden our nation for decades.
To address our long-term fiscal and economic challenges effectively, we need a bipartisan plan that fully tackles all of the major unsustainable areas of the Federal budget. The only way for us to win the future is with a bipartisan plan for the future: a set of sound and sustainable fiscal policies that solve our long-term structural deficits and can be implemented gradually as our economy recovers.
Despite the political challenges of reaching bipartisan solutions, the President’s Fiscal Commission is proof that this can be done. It is time for lawmakers from both parties to show leadership by putting our country on a path to economic prosperity and fiscal sustainability."
February 16, 2011
Analysis of the President’s Fiscal Year 2012 Budget | Analysis of the President’s Fiscal Year 2012 Budget | Peter G. Peterson Foundation | Our America. Our Future.
Read more analysis of the Obama budget proposal from the Peterson Foundation, a group with a realistic perspective by clicking the link above. Here's their summary, a good one at that.