Word: budgeter
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Obama's decision wasn't surprising - in his State of the Union speech, he dedicated prime space to hyping nuclear power - and on Tuesday, Feb. 16, he reiterated the need for a "new generation of safe, clean nuclear power plants in America." His proposed budget, released at the start of the month, would triple existing loan guarantees for new nuclear plants. While Obama has still done more to promote renewable energy than did any President before him, environmentalists are increasingly worried that greener sources like solar and wind are being downplayed in favor of nuclear, clean coal and biofuels...
...Obama really can pull Republican votes for climate legislation, nuclear support might be a worthwhile price. And because the money is a loan guarantee, if the plants are built on budget and succeed, the funds would be reimbursed to taxpayers. But some environmentalists point out that there's a reason no American nuclear plants have been built in more than three decades: the projects tend to be hit with construction delays, and the Congressional Budget Office (CBO) estimates that the risk of default on a new nuclear plant is higher than 50%. In a conference call with reporters, Energy Secretary...
...budget...
SOURCE: OFFICE OF MANAGEMENT AND BUDGET...
President Obama's $3.8 trillion budget for 2011 drew fire from lawmakers who say the plan does not seek to make a deep-enough dent in the soaring U.S. deficit, expected to hit a record $1.56 trillion this year. Obama blamed the shortfall in part on the "decade of profligacy" under his predecessor, including two wars and tax cuts for the wealthy. Propping up the fragile economy, he added, remains a top White House priority--and it's not cheap. While the proposed budget includes a three-year freeze on discretionary spending and other deficit-reduction measures, it also calls...