President Obama Sees First Budget Surplus Of Presidency
(AP/The Huffington Post) The Obama administration saw its first monthly budget surplus in April, with the federal government recording $58 billion, according to figures released by the Congressional Budget Office.
The surplus -- the first of Barack Obama's presidency -- was the result of both increased tax collection and lower government spending.
Prior to April, the federal government's last surplus dates back to September 2008.
Pressuring Congress, President Barack Obama is laying out an election year "to do" list Tuesday that urges lawmakers to take another look at economic proposals to promote job creation and help families refinance their mortgages.
The White House said Obama planned to discuss the list during a stop at college science complex in Albany, N.Y. It's the president's latest attempt to portray congressional Republicans as obstructing his economic agenda at a time when millions of Americans are out of work. Obama has sought to tie Republican Mitt Romney to GOP leaders in Congress, arguing that the likely GOP presidential nominee would simply rubber-stamp their policies.
Obama's wish list includes a number of proposals that he has outlined previously but have failed to gain traction in Congress. They include eliminating tax incentives for companies that ship jobs overseas and promoting new tax credits for small businesses and for companies to develop clean energy.
For veterans, Obama planned to press Congress to pass legislation creating a Veterans Job Corps to help service members returning home from Iraq and Afghanistan find work as police officers and firefighters.
Obama was issuing his list during a stop at the College of Nanoscale Science and Engineering at the State University of New York. The president has made a number of trips to universities, manufacturing plants and technology firms, seeking to promote research and development.
Republicans said they had a lengthy list of their own in the form of bills that have cleared the GOP-led House but remained bogged down by Senate Democrats. They accused Obama of recycling old ideas.
"We've passed nearly 30 jobs bills to increase American competitiveness, expand domestic energy production and rein in the red tape that is burdening small businesses. Democrats are blocking every one of them," said Brendan Buck, a spokesman for House Speaker John Boehner, R-Ohio.
White House spokesman Jay Carney, without detailing the specifics of Obama's trip to Albany, said Monday that Congress was under increasing pressure to approve measures to help the economy.
"Every member of the House is up for election this year and a third of the Senate, and each of those members who are running for re-election has to explain to his or her constituents what they did while they were in Washington these last two years. Did they just say no?" Carney said.