President Obama's 2015 Budget Focuses on Boosting Economy - KTVN Channel 2 - Reno Tahoe News Weather, Video -

President Obama's 2015 Budget Focuses on Boosting Economy

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President Barack Obama is sending Congress a $3.9 trillion election-year budget that would funnel money into road building, education and other programs aimed at bolstering the economy and creating jobs. 
 
From its tax boosts on the wealthy to its spending for pre-school and job training, the budget introduced Tuesday gives Democrats a playbook illustrating their campaign-season theme of closing the widening income gap between rich and poor.
 
However, election-year pressures and gridlock between the Democratic-run Senate and Republican-led House mean much of Obama's proposals will go nowhere. Many of the proposals were in earlier budgets and ignored. 
 
Obama's blueprint is for fiscal 2015, which begins Oct. 1, and would leave a federal deficit that year of $564 billion. That would be well below the recession-driven record worst of $1.4 trillion in 2009. 

The Pentagon unveiled its proposed 2015 defense budget that shrinks the armed forces while keeping a commitment to support European allies at a time of tension over Russia's military involvement in Ukraine.
 
In previewing the budget plan last week, Defense Secretary Chuck Hagel said his priority is to reshape the military for what he called a more volatile and unpredictable world, taking into account shrinking budgets.
 
In announcing details Tuesday, the Pentagon said its 2015 base budget would be $496 billion, unchanged from this year. The Army would shrink from 490,000 active-duty soldiers to 440,000-450,000 over the coming five years -- the smallest since 1940, prior to the buildup for World War II.
 
The budget retains a commitment to NATO and to building a missile defense system in Europe. (AP)

Nevada Senator Harry Reid released the following statement today regarding President Obama's budget request for FY 2015:

"President Obama today unveiled a responsible budget that should serve as a blueprint for creating jobs, strengthening the middle class and expanding economic opportunity to all. I particularly applaud the President's commitment to Social Security and his rejection of Republican demands to cut badly-needed cost of living increases for retired Americans. President Obama understands that special interest giveaways and tax breaks for the wealthiest one percent will not open the path to prosperity. Instead, we must grow our economy from the middle out.

"The President's budget continues to recognize that no federal funds should be wasted on the Yucca Mountain nuclear waste dump. Yucca Mountain was terminated four years ago, and our country is ready for an alternative approach to safely managing nuclear waste. An area that would create jobs is infrastructure. The President's budget included much-needed infrastructure investment, a priority critical for our long-term economic recovery. Another area that would reduce the budget deficit and grow our economy is immigration reform, which the Senate proved last year can be accomplished on a bipartisan basis.

"While my Republican colleagues may not like everything in the President's budget, the budget contains ideas that some Republicans have endorsed. I hope that we can work together in the coming months to find common ground on some of these issues, and work together to advance the interests of the middle class."

U.S. Senator Dean Heller (R-NV) issued this statement in response to the budget blueprint President Obama unveiled today:

"The budget blueprint President Obama unveiled today is just more of the same from an Administration that refuses to acknowledge the effect of crushing debt on our nation's economy. Last week, Senator Patty Murray from Washington - the Senator responsible for shepherding our nation's budget through Congress - said that she has no plans to actually pass a budget this year. This pattern of irresponsibility is exactly why I introduced ‘No Budget, No Pay,' which requires both chambers of Congress to pass a final budget resolution and all spending bills on time every year in order to receive pay.

"By failing to acknowledge the dire reality of our nation's fiscal state, this Administration and Congress are forcing future generations to pay the price for today's mistakes. Both the House of Representatives and the Senate should commit to completing their responsibilities to the American people and pass a budget and all twelve appropriations bills this year."

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