Spring is in the air! Can you feel it? A few signs of spring coming include Punxsutawney Phil on Groundhog Day, the president releasing his annual budget and the Red Sox “Truck Day.” Feb. 10 was the day the equipment truck left Fenway for Florida to get the team ready for spring training.
Recently, President Obama released his fiscal year 2017 budget – his final budget proposal. The president has included many of the same proposals from last year in this year’s budget.
The president’s budget is really more of a political statement than anything else. President Obama’s administration is quickly approaching “the bottom of the ninth;” you can be sure he’s going to swing for the fences before his time in office is up.
Given that this is an election year with less than 12 months to the end of President Obama’s term, there is little likelihood that many of the president’s “requests” will actually come to pass. However, the president’s budget proposals do provide an indication of what’s “in the pipeline,” including loopholes that could appear in future legislation. Last year’s proposal included the elimination of Social Security’s “file and suspend” and it happened. Read the full article here
By Bill Harris, CFP, President Elect FPA MA, WH Cornerstone Investments