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Defending his budget plan, President Obama maintained that discretionary spending would actually drop over time, something he said hasn’t been clear in “the chatter on the cable stations.”

“It reduces discretionary spending for non-defense programs as a share of the economy by more than 10 percent over the next decade, to the lowest level in nearly half a century,” he said. “I want to repeat that. I want to make sure everybody catches Read more…

try to ask Announces, Budget, defends, Obama, Procurement, Reforms

President-elect Barack Obama warned that he will inherit a $1 trillion budget deficit upon taking office, and pledged to ban all earmarks as an attempt to address both the “deficit of dollars and the deficit of trust.”

“We’re going to have to stop talking about budget reform. We’re going to have to fully embrace it,” he said after a meeting with his economic team this morning. “It’s an absolute necessity.”

He said his stimulus Read more…

try to ask defends, earmarks, Obama, Panetta, says