Acting OMB head Jeff Zients has a weak defense of the president’s budget in USA Today.
We put the country on a sustainable fiscal path, with deficits declining as a share of the economy, and we stabilize debt as a share of the economy, which is critical for business confidence and investment.
With spending cut so deeply, we invest scarce federal resources in areas critical for economic growth and middle-class security.
We’re talking here about a budget that increases spending from $3.8 trillion to $5.8 trillion by 2022, where the deficits and debt are all higher than the Congressional Budget Office projections, that counts money for Iraq and Afghanistan that wasn’t ever requested as savings, and also relies on the already concluded debt ceiling deal for savings. If this puts the country on a sustainable fiscal path, then Gisele Bundchen is my Valentine’s Day date.