Obama's Budget Includes More Spending, But Deficit Cutting

By: The Associated Press Email
By: The Associated Press Email

WASHINGTON - The budget submitted to Congress today by
President Barack Obama talks of the tough choices needed to restrain runaway deficits. But it also includes spending aimed at lifting the country out of a recession that has cost more than 7 million jobs over the past two years.

In his budget message, Obama says, "Until America is back at work, my administration will not rest and this recovery will not be finished."

Obama's budget offers tax cuts for businesses, help for the unemployed, and $25 billion more for state governments. The temporary measures would boost the deficit over the next two years by $245 billion.

The deficit for the current budget year is projected at $1.56 trillion, as the nation sees three straight years of deficits over a trillion dollars.

The plan includes a spending freeze on a wide range of programs.
But Republicans aren't impressed by the deficit-cutting, saying it falls far short of what's needed.

Judd Gregg, the top Republican on the Senate Budget Committee, says there needs to be a "bold, game-changing budget that will turn things around."

KBTX-TV Channel 3 4141 E. 29th Street Bryan, TX 77802 Phone: (979) 846-7777 Fax: (979) 846-1490 News Fax: (979) 846-1888
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 83269462 - kbtx.com/a?a=83269462
Gray Television, Inc.