• Burwell Event

The Honorable Sylvia Mathews Burwell

Director of the Office of Management and Budget | March 11, 2014
Discussed the Administration's FY15 budget and the importance of the Affordable Care Act

The Honorable Sylvia Mathews Burwell, Director of the Office of Management and Budget (OMB), participated in a discussion with Economic Club President Rubenstein at a luncheon. Among the issues they discussed were the Obama Administration’s FY2015 budget, the Bipartisan Budget Act, Obamacare and the impact the 2013 government shut down had on the economy. According to Ms. Burwell, the President’s budget sets “. . . discretionary spending [that] at its current levels will be as a percentage of GDP at the size that we had in the Eisenhower administration.” She also said that Obamacare is helping the economy. “In the period that the Affordable Care Act has been passed, the CBO has lowered its health-care cost estimates for the period of 2014 to 2020 by one trillion dollars.”

Excerpts from Event

“… we believe you need to do a couple things to help with these long-term deficit issues. Number one, you need to focus on health care costs, implement the Affordable Care Act as well as the health care savings we have in our budget.  Number two, immigration [reform]. Immigration causes economic growth …” ~ The Honorable Sylvia Mathews Burwell, Director, Office of Management and Budget

“…when considering the question of the debt and the right level of the debt and deficits, you need to put it in the context – the broader context of what’s happening in the economy and the context of what also has already happened. One of the most important measures to focus on is a declining deficit-to-GDP ratio – ours goes from over 3 percent down to 1.6 in the current budget window of 10 years – and debt to GDP, because it is a measure of the size of the economy. We go from about 74 down to 69 percent.” ~ The Honorable Sylvia Mathews Burwell, Director, Office of Management and Budget

 

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