Thursday, April 2, 2009
Democrats in the House and Senate are on track to give President Barack Obama a key victory by adopting slightly pared-back versions of his $3.6 trillion budget.
Both versions are expected to pass today.
Meanwhile, Republicans in both chambers are putting forward alternatives that are more generous with tax cuts and stingier with spending.
None of the plans -- Obama's, House and Senate Democrats', or the competing GOP outlines -- would succeed in tamping down the deficit much below $500 billion within five years.
Also, the budget blueprints provide little guidance on how to craft subsequent Obama initiatives to reshape the U.S. health care system or combat global warming.
Congressional budget resolutions are nonbinding blueprints that set the parameters for legislation to follow.