President Obama on Tuesday laid out a $3.9 trillion budget proposal for 2015 that is unlikely to have much of an impact in Congress but stands as a reaffirmation of Democratic priorities ahead of the midterm elections.
"The budget is not just about numbers, it's about our values and it's about our future," Mr. Obama said from a classroom at Powell Elementary School in Washington, D.C. The setting illustrated the Democrats' insistence that, in spite of conservative concerns about government spending, investments in areas like education and infrastructure will pay off.
- Obama's budget sets the stage for 2014 midterm debate
- Social Security cuts will not be in Obama's 2015 budget
- Obama, GOP leader both pitch tax reform, transit investments
"These kids may not be the most excited people in town on budget day, but my budget is designed with their generation and future generations in mind," the president said. "It is a road map for creating jobs with good wages and expanding opportunity for Americans. And, at a time when our deficit has been cut in half, it enables us to meet our obligations to future generations without a mountain of debt."
Spurning continued Republican calls for robust deficit reduction, Mr. Obama has left out the 2015 proposal the controversial Social Security cuts that he included in past budgets. It instead calls for ambitious investments in transit infrastructure, paid for through tax reform, and the expansion of programs designed to reduce poverty like the Earned Income Tax Credit (EITC).
--------As of now, the national debt stands at a whopping $17.6 trillion, $6.8 Trillion added in just the last 5 years. That means 40 cents of every dollar of debt this nation has ever accumulated has been run up in the just the past 5 years.-----
http://www.cbsnews.com/news/obamas-39-trillion-budget-plan-lays-out-democratic-priorities/
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