Business and Economics

New Federal Budget Awaits President’s Signature

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December 18, 2013 — by Jerry Howard & AP

A new federal government budget awaits a presidential signature, and President Barack Obama says he has been waiting, too.

“I’m pleased that with tonight’s vote in the Senate, for the first time in years, both parties in both houses of Congress have come together to pass a budget.  It’s a budget that unwinds some of the damaging sequester cuts that have harmed students and seniors and acted as headwinds our businesses had to fight.”

Congress has sent President Obama a budget that scales back across-the-board spending cuts on programs ranging from national defense to national parks.

The final vote on the measure today was 64-36 in the Senate. The House approved the bill last week.

Obama says, “All told, it’s a good first step away from the shortsighted, crisis-driven decision-making that has only served to act as a drag on our economy.  It helps chart our economic course for the next two years, which means that the American people won’t be exposed to another painful and unwise government shutdown.”

The legislation is designed to prevent the kind of budget stalemate that has prevailed during the past three years of divided government and that led to this October’s partial government shutdown.

Obama’s signature is assured, as he says, “I thank Democratic and Republican leaders from the House and Senate who have worked hard to get this budget done and look forward to the Congress sending me bills that fund our government and refrain from fighting old ideological battles, and I hope this spirit of cooperation will continue into the New Year as we work to restore opportunity and broad-based growth for every American.”

 

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