
New Economy Transformation: Obama Budget Won't Help
• By Miriam PembertonHere is a quick take on how little the President’s budget request, released this week, is going to help.
First a few bright spots. This budget is a milestone of sorts. For the first time, it offers less money to the military next year than we are spending this year. This is not the way the term “spending cut” tends to be defined in Washington-speak. Mostly “cuts” are made to last year’s expansive projections of the future. As in: the doubling of my salary that I projected last year didn’t happen, therefore I took a salary cut. All those military spending cuts referred to in previous years have been that kind.