Economist says budget passage a “big deal”
SUNBURY – Congress passed a two-year federal budget deal on Wednesday and a local economist says this is a big step in the right direction. Stephen Stamos, emeritus professor of international relations at Bucknell University, spoke about the budget on WKOK’s Sunrise program.
Stamos said, “It reflects some end of the dysfunction we’ve had for the last couple of years. It’s the first budget we are going to have in four years that’s actually passed through Congress. This gets us out of this endless cycle of continuing resolutions and most recently, the shutdown we experienced and the fear of even another one.”
Stamos said the budget ends the sequester with no government shutdown. He explained, “It’s a very modest proposal and no grand bargain. Some people see it as a new beginning. The nice thing about it is it gives us some stability and certainty about the economy and markets for a while, which will be good for investors, consumers and businesses.”
Stamos says the budget restores $63-billion in cuts over the next two years to military spending and social programs. You can hear all of the professor’s comments from WKOK Sunrise here.