Carney said Obama’s budget shrinks the annual deficit “to a very manageable level” and follows a balanced approach that bipartisan budget groups have all used, with a mix of revenue and spending cuts. He said the president’s approach largely follows the Simpson-Bowles fiscal commission, which Obama never fully embraced.
Senior administration officials, meanwhile, insisted that a Republican push to undo the sequester on defense spending wasn’t going anywhere, and they are already looking ahead to the lame-duck session after the elections for a climactic battle over spending and taxes.
Vice President Joe Biden waits to conduct a mock swearing-in ceremony with Sen. Brian Schatz, D-Hawaii, in the Capitol's Old Senate Chamber, December 2, 2014. Schatz was sworn in to serve the remainder of his term since he was appointed to the seat after Sen. Daniel Inouye, D-Hawaii, passed away.