President Obama’s Valentines day budget is not getting love form both sides of the aisle. tHE gop wants 100 billion dollars in cuts. Some demcrats are upset with what he is cutting.
President Obama’s $3.73-trillion, 216-page budget for FY 2012 makes across the board cuts with the budget ax swinging on low income community programs to include: Pell Grants, WIC, community service block grants, home heating oil assistance. Community service block grants are loosing 350 million dollars, the Home heating assitance program is being reduced to 2.5 billion from 5 billion dollars. The President is cutting the Department of Agricultures Single Family Housing Direct Loan Program by 81 perctent to 211 million. Sources close to the USDA contend “Low income black rural folks” will be hit hardest because they go to the USDA for that program as a last resort to obtain funding for a house. The obama administration says they are refocusing efforts on the more effective Single Family Housing Loan Gurantee Program by providing more than 170, 000 new home ownership opportunities with a greater focus on low income rual borrowers.
The proposed cuts is a cause of concern for the members of the Congressional Black Caucus. They will be meeting with Vice President Joe Biden at the Naval Observatory about the proposed budget as they are not happy with cuts to programs for those in the low income bracket.
Virginia Congressman Bobby Scott is blaming the cuts on the recent passage of the Tax Cut package. The White House contends that has nothing to do with the current fiscal problem. Congressman Scott disagrees and uses the analogy of a gambler loosing his money and has no money to pay bills. Scott says that gambler quickly learns his lack of funds is due to the gambling. Senior Advisor to the President, Valarie Jarrett was asked can president Obama keep his 55 percent approval rating with the proposed cuts? Jarrett said, yes as “the American public understands belt tightening.”