On Monday, the Obama Administration will release its FY16 budget, laying out spending plans Republicans have already made clear they largely abhor. Still, the Administration’s budget has heft, providing not only a starting point for Democrats, but also a guide to actions the Administration will take on its own wherever current spending and statutory authority permit. In this report, we lay out key flash points we expect in the hundreds of pages and tables that all too often go unread. Housing policy is particularly important in this area, as are efforts to rein in large banks. Although independent of budget authority, the FRB plays into the picture and could come under yet another point of attack, with even the FDIC at risk here as well.
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