Theoretically, President Obama's "2015 Budget" would help "grow" our economy and allow it to expand. While personally I don't believe Obama and his staff have EVER handled the deficit problem correctly, and highly doubt that they'll start cutting down on spending out of the blue (President Obama has added more to the deficit than any other US president in office, and has done virtually nothing to cut back on spending) here's what the proposed "Budget Plan" would "help" accomplish, and how.
Thanks to lowered costs on Medicare and Medicaid, the budget staff will be able to constrict back costs on health care and keep them low. Theoretically, our deficit is supposed to decrease to more than half of its original percentage by the turn of 2014 by DEFAULT. As in, without the President even implementing his budget plan, the deficit is expected to drop dramatically over the coming years. Does that mean it will actually occur? Time will only tell. However, we are all aware that the president is still going to "attempt" to cut down the budget himself, and with his implemented plan, GDP is "scheduled" to drop down to approx. 1.6%. Sure, the idea of a drastically lowered deficit is dandy, but one has to be realistic and acknowledge if such a thing is even possible under the current presidency, or, any presidency, for that matter. Yes, having cutbacks on discretionary spending would help lower the deficit and keep healthcare costs constricted, but there is no evidence that this will indeed take place. All in all, the White House-published video explaining the deficit and the president's strategy to cut it down within the span of a few years seemed vague, ambiguous, and over simplified. There are many more factors that go into the controlling of the deficit than the white house staff is allowing the public to believe. It just isn't that simple to cut back a deficit and to hold the reigns of such an unstable economy.If the president cares so much about implementing less spending and cutting back the deficit, than why is he waiting until the middle of his second turn to actually do something about it? I would have loved to see some of this economical "hope and change" back in 2008.