President Obama was on the Annandale campus of NOVA to present the President\'s

Question

President Obama was on the Annandale campus of NOVA to present the President's Budget for Fiscal Year 2013. I want you to go to the White House Office of Management and Budget web site at http://www.whitehouse.gov/omb/budget

Click on the President's Message tab on the left and read his message on the budget submission. I want you to pick out one element in President Obama's message and prepare a short write-up on it's importance to the economy. Feel free to use any material in the rest of the website. And feel free to bring in current discussions from the runnup to the election.

Explanation / Answer

Bipartisan Budget Agreement which was signed into law last fall, aims to lift sequestration in future years so that investment in economic future and national security is continued in the economy. It would prove beneficial as it also look forward to drive down deficits and maintain the fiscal progress through smart savings from health care, immigration, and tax reforms. And, it focuses on meeting greatest challenges of the economy not only for the year ahead, but for decades to come. From the economic point of view, this agreement would prove quite helpful. It is predicted to add 340,000 jobs in 2016 alone. This is a good sign for the employment status of the economy. And, by providing $80 billion of sequester relief over the next two years, as well as additional funding, the agreement will also allow for increased investments in key areas that support economic growth now and into the future, like education, job training, or medical research. This budget agreement reflects promising work between Democrats and Republicans in Congress who were willing to come together to break the cycle of short-sighted decision-making in order to deliver an agreement that works for the middle class.This agreement would surely avoid harmful, mindless cuts and allow smart investment in a future that will create jobs, support the middle class, and deliver a stronger economy for future generations.

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