Wednesday, February 6, 2013
Budgeting has never been at the top of President Obama’s list of priorities. For the fourth time in five years, the White House missed the statutory deadline Monday for submitting its annual spending blueprint to Congress. Mr. Obama isn’t in a rush to let the world know that his intention is to keep spending the country into the red.
The House hopes to change that on Wednesday. The lower chamber will vote on a bill insisting the president submit a budget that comes into balance within 10 years. Should he fail to comply, he would have to submit a supplemental budget by April 1 identifying the exact year when his ledgers would even out.
Rep. Tom Price, the bill’s sponsor and Budget Committee vice chairman, thinks this will encourage responsibility. “President Obama has overseen record deficits of more than $1 trillion each year he’s been in office, adding nearly $6 trillion in national debt onto the backs of our children and grandchildren,” the Georgia Republican told The Washington Times. “It’s time for the White House to get serious about the enormous fiscal challenges facing our nation, and that begins with putting ‘pen to paper’ on a federal budget that actually comes into balance.”