President Obama delivers his 2012 Federal budget proposal today, and already debate is in full swing. Stan Collender, budget expert and writer for the Capital Gains and Games blog, helps us understand what to expect. His prediction? A congressional stalemate the likes of which we haven't seen in over a decade.
President Obama says that his budget will reduce the deficit by more than $400 billion over the next decade. However, speaker of the House, John Boehner already disputes that the proposal is going far enough. "We're broke. What's really dangerous is if we continue to do nothing and allow the status quo to stay in place," said Boehner on "Meet the Press Sunday, asking "When are we going to get serious about cutting spending?"