President Obama's 2012 Budget Proposal

President Obama's 2012 Budget Proposal

President Obama's $3.7 trillion budget proposal slashes many popular programs and aims to substantially reduce the deficit over a decade, but Republicans want far deeper cuts. Analysis of partisan budget battles ahead.

President Obama is feeling pressure from all sides on his 2012 budget proposal. The $3.7 trillion plan he announced yesterday reduces or entirely eliminates funding for many domestic programs and increases spending in areas specifically oriented toward the future such as education, infrastructure, and energy. The plan is projected to lead to another year of deficit spending that exceeds one trillion dollars, but longer term, it is projected to reduce the deficit from about 7% of GDP to 3.2%. Many House Republicans believe spending cuts need to be far deeper. Join us for a conversation about the President’s proposal and where the budget battles go from here.

Guests

Douglas Holtz-Eakin

president of the American Action Forum, chief economist and director of the Congressional Budget Office from 2003 to 2006.

Damian Paletta

reporter, The Wall Street Journal.

James Galbraith

economist; Lloyd M. Bentsen Jr. chair in government/business relations and professor of government at the University of Texas at Austin's Lyndon B. Johnson School of Public Affairs; author of "The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too."

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