The Office of Management and Budget is scheduled to release its outlook for the 2011 spending spree tomorrow. The release will be an indicator for how serious the Obama administration is in its rhetoric promising to tackle the out of control national debt and deficit.
On the fiscal stability front, a couple of things to consider:
- Will the White House continue to promote a “jobs bill” as stimulus 2.0? This would be more spending in a way that has not been proven successful a promoting a sustainable economy.
- Will the president act on his promise of taking waste out of the federal budget “line by line”?
- Will the budget estimates be based on a projected revenue stream assumed from increased taxation?