President Obama unveiled his budget for the 2015 fiscal year that promotes his policy priorities and contains few concessions to
Republicans. Most say it that stands little chance of becoming law. Karen Travers has more.
Today President Obama sent congress a 3.9 trillion dollar budget, but he made his sales pitch at an usual spot – an elementary school here in Washington.
“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.”
This election year budget lays out a fiscal roadmap for the President’s populist agenda – expanding opportunity and shrinking the gap between rich and poor.
The budget includes…new spending for pre-kindergarten education, job training programs, an expansion of the earned income tax credit for low-income workers with no kids and about 300 billion for infrastructure projects.
President Obama, “it’s a road map for creating jobs, with good wages and expanding opportunity
for all Americans.”
it’s a steep price tag…paid for with spending cuts…and tax increases. The President wants to raise about 650 billion in revenue by limiting tax deductions for the wealthiest Americans.
President Obama, “right now our tax system provides benefits to wealthy individuals who save, even after they’ve amassed multi-million dollar retirement accounts.”
It’s a familiar refrain – one the President emphasized day in and day out on the campaign trail in 2012. and one that democrats will push strongly before November’s midterm elections. Republicans something something. Republicans dismissed the budget as politics as usual.
President has opted for a political stunt for a budget that’s more about firing up the base in an election year than solving out most persistent and long-term challenges.
President emphasized this populist agenda throughout his 2012 campaign and this will be a key theme for democrats heading into November’s midterm elections.