This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

An Agency-by-agency Guide To Obama's 2014 Budget

Mandatory Spending: $67.6 billion

Highlights: The Pentagon is proposing savings mainly through ending or shrinking certain weapons programs, shaving health care benefits and reducing military construction. It also would slow the pace of military pay raises. Spending would otherwise be largely the same in all major categories as in 2013.

The budget proposal calls on Congress to approve a round of domestic military base closings in 2015, which would cost an estimated $2.4 billion in the short run but save an unspecified amount over the long term.

Although the U.S. is winding down its role in Afghanistan, the Pentagon faces enormous costs of pulling out its troops. The 2014 budget includes a "placeholder" figure of $88.5 billion for war costs, although that number is expected to be revised down slightly once the White House makes more decisions about the pace of 2014 troop withdrawals. The budget assumes that the U.S. will have 34,000 troops in Afghanistan at the end of the budget year in September, down from the current 63,000.

___

Agency: Education

Total Spending: $56.7 billion

Percentage Change from 2013: 10.8 percent decrease

Discretionary Spending: $71.2 billion

Mandatory Spending: $0

Highlights: Obama's proposed education budget calls for expanded programs for young people before they reach kindergarten and offered Congress two options to consider: a $750 million preschool program for 4-year-old students from four-member families earning $47,100 or less; or a more expansive $2 billion option that would provide universal access to pre-school programs, with incentives for states to offer programs for all families. The proposal requires that up to 5 percent of those funds be used to measure student achievement and collect data.

The president's preschool plan would be paid for by a higher tax on tobacco, which the administration said would raise $78 billion over a decade by almost doubling the federal tax on cigarettes to $1.95 per pack.

3 of 18

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs