At a luncheon meeting in March 2015, the Honorable Shaun Donovan, Director of the Office of Management and Budget, delivered remarks and then sat down with President Rubenstein to discuss President Obama’s FY2016 budget proposal, submitted to Congress on February 2, 2015. Director Donovan presented an overview of key proposals in the $3.99 trillion budget and provided the Administration’s perspective about how the President's budget will impact the U.S. fiscal picture in the short and long term. He said that the Ryan-Murray budget agreement of 2013 provides a good starting point for negotiations between the Administration and Congress. He also expressed skepticism that the Republican goal of balancing the budget within a decade was achievable. According to Director Donovan, moving too quickly to balance the budget is "potentially disastrous" for the American economy and could bring about "harmful austerity."
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