Archive for the ‘taxes’ tag
President Obama Unveils His Budget
The Washington Post is reporting that the budget which the President submitted to Congress today will drive the deficit up to $1.75 trillion.
Of course, he would be quick to point out that he inherited $1.2 billion of the deficit. The deficit is part of the $3.6 trillion dollar budget.
The New York Times described his budget as a “massive shift in priorities.” Instead of just piling on $500 billion worth of new spending, he actually cut spending significantly in some places to add more significantly to others.
The President’s budget includes tax increases for the wealthy, cuts in medicare, and lays the groundwork for a universal health care system. It sounds like the agenda he was elected to implement. Unfortunately, he is also asking Congress for $200 billion for fighting wars.
He is unveiling the largest economic plan since The Great Society. I just hope he isn’t marching down the road to another Vietnam in the rugged countryside of Afghanistan and Western Pakistan for a war with the Taliban.