2010 Federal Budget Agreement Draws Near

President Obama’s proposed 2010 federal budget is a vast $3.5 trillion. The House passed their version of the budget April 2, and the Senate passed their version shortly thereafter.

Following the approval of budget resolutions by the House and Senate Budget Committees, Peter R. Orszag, director of the White House Office of Management and Budget (OMB), issued the following statement:

“We are very pleased that budget resolutions have been passed out of committee and soon will be considered by the full House and Senate.

“These resolutions contain the President’s four top budget priorities—health care reform; giving our children a world-class education; investments in clean energy and reducing our reliance on foreign oil; and cutting the deficit we inherited in half before the end of the President’s first term. This is a big victory for the future of our economy and our nation.

“The Congress now has before it a blueprint to rebuild our economy; invest in health care, education, and clean energy; and put our nation on a path of fiscal sustainability and prosperity. We look forward to working with both chambers to see the budget resolution’s swift passage in the days ahead.”

Read President Obama’s 2010 full budget proposal on the WhiteHouse.gov Web site.

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