WASHINGTON (AP) — President Barack Obama feels he has struck just the right budget balance between providing more short-term support for the economy while putting forth a long-term plan to get control of the government’s soaring budget deficits.
But Republicans vehemently disagree, attacking his budget as a replay of the failed economic policies they say have resulted in an economy growing at subpar rates and government debt soaring to record highs.
Both parties would agree that Obama’s latest budget, released Monday, will feature heavily as a debating point in the November elections to determine who will win the White House and whether Democrats or Republicans win control of the House and Senate.
The administration’s chief economic spokesman, Treasury Secretary Timothy Geithner (GYT’-nur), is scheduled to testify before the Senate Finance Committee on Tuesday.
