This document used to be on the whitehouse.gov web site
Barack Obama will restore fiscal discipline to Washington: Obama and Biden review the federal budget line by line and eliminate programs that don’t work or are unnecessary.
Plan for Restoring Fiscal Discipline
The Problem
Increasing Debt: Under President Bush, the federal debt has increased from $5.7 trillion to $8.8 trillion, an increase of more than 50 percent.
Obama has doubled the debt to $16.5 trillion.
Cut Pork Barrel Spending: Obama introduced and passed bipartisan legislation that would require more disclosure and transparency for special interest earmarks. Obama and Biden believe that spending that cannot withstand public scrutiny cannot be justified. Obama and Biden will slash earmarks to no greater than year 1994 levels and ensure all spending decisions are open to the public.
Make Government Spending More Accountable and Efficient: Obama and Biden will ensure that federal contracts over $25,000 are competitively bid. Obama and Biden will also increase the efficiency of government programs through better use of technology, stronger management that demands accountability and by leveraging the government’s high volume purchasing power to get lower prices.
End Wasteful Government Spending: Obama and Biden will stop funding wasteful, obsolete federal government programs that make no financial sense. Obama and Biden have called for an end to subsidies for oil and gas companies that are enjoying record profits, as well as the elimination of subsidies to the private student loan industry which has repeatedly used unethical business practices. Obama and Biden will also tackle wasteful spending in the Medicare program.
Barack Obama and Joe Biden’s Record
PAYGO: Obama voted in 2005, 2006, and 2007 to reinstate pay as you go (PAYGO) federal budget rules.
Against Raising the Federal Debt Limit: In 2006, Obama voted against misguided Republican efforts to raise the statutory debt limit
moveleft.org/obamas_promises/www-barackobama-com_issues_fiscal.pdf
