CBO Director: “We Have Not Seen A Specific Proposal” On Obama Budget

According to Congressional Budget Officer Director Doug Elmendorf’s testimony before the Senate Budget Committee today, he has not seen a specific budget proposal from Barack Obama.

Elmendorf’s testimony was to provide context and details of the CBO’s recent long term Budget and Economic Outlook to the committee members.

In a recent weekly address by Barack Obama, it was reported:

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Citing improving economic indicators, including higher home sales, expanding manufacturing and the continued job growth, Obama said the economy should continue to expand in the coming months if Washington doesn’t get in the way of the recovery. And once again, he called for a “balanced approach” to cut the deficit while encouraging economic growth.

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“We can’t just cut our way to prosperity,” Obama said. “It hasn’t worked in the past, and it won’t work today.”

The president called for cutting unnecessary spending, while continuing to spend money on education, infrastructure, and research and development. He also said the country needs to close loopholes in the tax code and lower health care costs in programs like Medicare.

However, Elmendorf was asked by Senator Roger Wicker (R-MS) about Obama’s comments that the federal government should take a “balanced approach” to deficit reduction and what the analysis of the CBO might be.

“We have not seen a specific proposal,” Elmendorf replied, “so I don’t know.”

When pressed further, Elmendorf replied again, “we have not received a specific proposal.”

Senate Democrats have not produced one budget since April 2009.

Elmendorf warned against coming up with a plan to avert the approaching sequester without providing offsetting deficit reduction in the future, saying that the economy will take a hit if the solution isn’t done properly.

Apparently Mr. Elmendorf doesn’t realize the hit the economy has taken. However, the CBO’s analysis projects that, at least for the next decade, we are looking at a permanently elevated level of debt.

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