US budget: a lesson in election bids

In the United States of America, Republican law makers have declared the US Federal Budget FY12 proposed by President Barrack Obama, "dead on arrival". But this document, which is to be taken up by Congress for deliberations over the next few months, may post an insurmountable challenge for the Republican bid for the US Presidency at the end of this year. Heres how. According to the US Constitution, all "money bills" or legislation that would entail the flow of government funds must originate in the House of Representatives, which is currently dominated by the Republican Party. In other words, it is now largely up to the Republicans to come up with a better version or at least one that can see the light of day. While House Republicans are expected to table their budget proposal in March; they shall do so amid risks of alienating a large proportion of American voters. Obamas budget proposal envisions an end to tax cuts for those earning an annual income of $250,000 or more; which was introduced by Obamas predecessor. He has also called for higher taxes on the rich, to help boost government spending on infrastructure which would in turn generate more jobs. Republicans argue that raising taxes would stifle growth but fall short of making a significant dent in the mushrooming sovereign debt. Whether this argument holds merit is debatable. But, it is quite obvious that any Presidential candidate, who appears to the public as a champion of rich individuals and giant corporations, may as well pull off the campaign trail. When he took office back in 2008, Barrack Obama enjoyed popular support, the likes of which no American President can boast of, in recent history. However, the deteriorating economic conditions of the US economy have taken a bite out of the Presidents support. As the Republican race to choose a contender against Obama heats up, it appears that the embattled President is looking to the past, to secure his future. Back in 1948, President Harry S. Truman was largely expected to lose his reelection bid. But in his campaign, Truman successfully called the voters attention towards the "do nothing Congress" that had impeded his efforts to enact reforms to boost the economy. Taking a leaf from Trumans playbook, President Obama addressed a fund raiser in Washington, DC last week, thus: "This Congress, they are accustomed to doing nothing, and they e comfortable with doing nothing, and they keep on doing nothing". The Republican nomination appears to be heading towards a last-minute showdown at the ballots, in the absence of any clear front runners so far. Aspirants for the most coveted Presidency of the world now have the additional burden of disproving Obamas assertions before heading into the elections.