President Obama, in his FY2014 Budget Request, aims to prime the economy to the benefit of all of us. His budget invests in what is necessary for the nation to have a strong future:
- Repair of long-neglected infrastructure including schools, bridges and roads
- Development of manufacturing innovation institutes
- Increase of nondefense research and development
- Education and job training to prepare people in the above areas, including “Preschool for All”
- Investment in clean energy, creating an Energy Security Trust, encouraging states to cut energy waste, modernizing the energy grid and making permanent the tax credit for renewable energy production
NETWORK supports these elements, and applauds the President for making these improvements while cutting the federal deficit. Many of the proposals demonstrate a concern for the middle class and low-income families, echoing NETWORK’s call for a respect of the dignity of work and workers.
At a time when the Supplementary Nutrition Assistance Program (SNAP) is challenged by the Farm Bill and in the House budget proposal, NETWORK is extremely supportive of the President’s holding the line on SNAP funding. This is known to be the most efficient of government programs, ensuring adequate nutrition to millions of Americans and providing economic benefit to neighborhoods, as each dollar in SNAP benefits turns over $1.78 in commerce.
However, as in any budget, NETWORK raises attention to significant concerns. In an attempt to compromise with House opponents, the President has included use of the “Chained CPI” a formula which changes the way federal benefits and certain provisions of the tax code are adjusted for inflation. Over time, this would, in effect, reduce benefits to recipients of Social Security and various vetera