Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Deficit-Reduction Impasse May Delay Fiscal 2014 Budget

Don't Miss Out —
Follow us on:

Dec. 16 (Bloomberg) -- The impasse over deficit-reduction talks between the President Barack Obama and House Speaker John Boehner is delaying preparations for the fiscal 2014 federal budget, a White House official confirmed.

The Office of Management and Budget customarily tells federal departments and agencies in late November or early December the amount of money that will be proposed for their budgets in the coming fiscal year.

Because of the stalled talks, that process is being delayed, according the White House official, who asked for anonymity to discuss internal deliberations. The slowdown was reported earlier today by Politico.

The result may be a postponement of release of Obama’s fiscal 2014 budget from the planned date of Feb. 4, the first Monday in February. The White House official said there was no information available on revised timing for Obama to submit his next budget to Congress.

Obama and Boehner, an Ohio Republican have less than two weeks to reach a deal to avoid more than $600 billion in automatic spending cuts and across- the-board tax increases set to begin taking effect in January.

To contact the reporters on this story: Roger Runningen in Washington at rrunningen@bloomberg.net

To contact the editor responsible for this story: Steve Komarow at skomarow1@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.