IN THE DAYS OF OVERSPENDING AND DEBT EXPANSION OBAMA SAYS "LET THEM EAT MORE CAKE"

WASHINGTON -- President Obama is sending Congress a $3.73 trillion spending blueprint that pledges $1.1 trillion in deficit savings over the next decade through spending cuts and tax increases.
Obama's new budget projects that the deficit for the current year will surge to an all-time high of $1.65 trillion.

The president's projected $1.65 trillion deficit for the current year would be the highest dollar amount ever, surpassing the $1.41 trillion deficit hit in 2009. It would also represent 10.8 percent of the total economy, the highest level since the deficit stood at 21.5 percent of gross domestic product in 1945, reflecting heavy borrowing to fight World War II.

The president's 2012 budget projects that the deficits will total $7.21 trillion over the next decade with the imbalances never falling lower below $607 billion, a figure that would still exceed the previous deficit record before Obama took office of $458.6 billion in 2008, President George W. Bush's last year in office.

In the energy area, the budget would support Obama's goal of putting 1 million electric vehicles on the road by 2015 and doubling the nation's share of electricity from clean energy sources by 2035.
The budget proposes program terminations or spending reductions for more than 200 programs at an estimated savings of $33 billion in 2012. Programs targeted for large cuts included Community Development Block Grants, trimmed by $300 million, while a program that helps pay heating bills for low-income families would be cut in half for a savings of $2.5 billion while a program supporting environmental restoration of the Great Lakes would be reduced by one-fourth for $125 million in savings.


The administration will also propose saving $100 billion from Pell Grants

The budget will propose $1 billion in cuts in grants for large airports, almost $1 billion in reduced support to states for water treatment plants and other infrastructure

Another $62 billion in savings would be devoted to paying to prevent cuts in payments to doctors in the Medicare program

it did call for $78 billion in reductions to Pentagon spending

Obama's budget would also raise $46 billion over 10 years by eliminating various tax breaks to oil, gas and coal companies.

an estimated savings of $33 billion in 2012. Programs targeted for large cuts included Community Development Block Grants, trimmed by $300 million, while a program that helps pay heating bills for low-income families would be cut in half for a savings of $2.5 billion while a program supporting environmental restoration of the Great Lakes would be reduced by one-fourth for $125 million in savings.

THIS ADMINISTRATION HAS NO CLUE. CLUELESS WHEN THE DEBT COMMISSION IS EVEN IGNORED IN THIS BUDGET. THE SPEND AND TAX PRESIDENT LIVES ON. WITH THE CURRENT INCOME OF 2.5TRILLION HE PROPOSES A 3.7TRILLION SPENDING.


FIGURES HIS HEAD IS STILL IN THE SAND. COULD SOMEONE PULL IT OUT FOR HIM. HE LIKES IT THAT WAY.

http://www.foxnews.com/politics/2011/02/14/obama-sends-trillion-budget-congress/