President Obama is not releasing a budget proposal as a matter of fiscal responsibility or genuine spending priority.
He’s proposing a fiscal budget with an eye on creating political levers for an upcoming mid-term election cycle.
Never before has any president used the serious issue of a budget presentation merely to generate political divisions.
Facing a looming thunderclap of defeat, he’s trying to stir his base – and using his budget to do so….
WASHINGTON DC – President Barack Obama’s $3.901 trillion budget would raise taxes on the rich, expand tax credits for the poor and middle class — though as of now, it merely serves as a White House wish list.
Although very little of it is expected to become law — or even be seriously considered via legislation on Capitol Hill — the president’s budget still serves as a benchmark for congressional Democrats.
It seeks $651 billion in new revenue from the rich, would formalize in the tax code a rule named for billionaire investor — and Obama supporter — Warren Buffett, cuts the size and pay of the military, and expands or creates a series of social programs the president has long touted. (more…)
