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Wednesday the House of Representatives voted to pass through a $3.4 trillion budget outline that endorses much of President Barack Obama’s initial budget goals and agenda. Many skeptics have pointed to the bills hefty pricetag and its increases to the national debt.

Despite the descent from many of the Republicans and so-called moderate Democrats, the bill passed with a 233-193 House vote. Not a single Republican voted for the measure and 17 Democrats, mostly from traditionally republican-leaning districts, voted against it.

Democrats greeted the measure with enthusiasm, but this was an expected and relatively easy step in the budget’s creation process. President Obama’s plan to provide health care for all Americans, which was a central point in the budget, will face much more stringent test in the Senate, even after the defection of former Republican Senator Arlen Specter. Followed by often-arduous negotiations among lawmakers, the Obama administration and a vast array of interest groups. The Senate will vote on the measure Wednesday afternoon.

With the economy in recession and the bailout of the financial sector costing hundreds of billions of dollars, deficits would soar to $1.7 trillion for the ongoing budget year, dipping to $1.2 trillion in 2010. The national debt would rise from today’s $11.2 trillion level to $17 trillion at the end of 2014.

House Budget Conference Agreement - Free Legal Forms

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