17 September, 2013
From VOA Learning English, welcome to As It Is! I'm Mario Ritter. Today, we hear about the budget debate in Washington.
"The first order of business must be to pass a sensible budget..."
President Obama is urging Congress not to delay action on legislation to finance government operations. But some lawmakers oppose America's new health care law enough to do just that.
This week also marks five years since the worst financial crisis in a generation. Later we lighten up. Young business owners are making a profit with stores on wheels. We will hear about the upside of going mobile.
The Budget Debate Marches Toward Another Time Limit
In Washington, financial and economic issues are gaining urgency as October 1st nears. That is when the federal government begins its new fiscal, or financial, year. On Monday, President Obama called for a budget agreement between Democratic and Republican Party lawmakers. Yet budget cuts and political disputes over the new health care law threaten delays.
Currently, the government is operating under automatically enacted budget cuts, known as sequestration. In addition, the government may not have enough to pay for all government operations in the new fiscal year unless Congress approves more money.
Lawmakers extended earlier time limits for reaching a budget agreement in the past. However, on Monday, the president linked passage of a budget to economic growth and job creation.
"If Congress is serious about wanting to grow the economy faster and creating jobs faster, the first order of business must be to pass a sensible budget that replaces the sequester with a balanced plan that is both fiscally sound and funds the investments like education and basic research and infrastructure that we need to grow."