US Department of Defense FY 2014 Budget: After a Year of Drama, Budget Chairs Prescribe Sequester PainkillerDec 17, 2013 21:50 UTC
By releasing its budget proposal for fiscal year 2014 in mid-April, the Obama administration was two months over the legal deadline and later than at any time in the modern record. The Office of Management and Budget (OMB) reiterated the gambit that failed and arguably backfired in the previous fiscal year by ignoring the sequester. In place, President Obama put again on the table the broad terms he had offered earlier to House Republicans, with a mix of spending cuts (translation from Washington lingo: mostly a decrease in the rate of real growth) and tax increases. At the time that was received by most observers as a lack of realism, making the budget request at best relevant in terms of its hinting of relative priorities. Events throughout 2013 would then vindicate the view that the FY14 PB was a fantasy.