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Obama Unveils 3.73 Trillion Budget With Cuts and Tax Moves
President Obama sent Congress a 3.73 trillion dollar budget for 2012 promising deficits trimmed by about 1.1 trillion over ten years through domestic cuts and tax increases. The plan foresees 1.65 trillion deficit this year rising to 1.65 trillion and then improving, with priority spending in education energy and rail. Republicans attack it as timid while Democrats push for deeper debt reduction and longer term reform.
MENTIONED IN THIS ARTICLE
Washington, D.C
Barack Obama
Congress
Deficit Commission
Obama
Baltimore
House
Senate
Republican
House Budget Committee
Paul Ryan
Wisconsin
Mitch McConnell
Washington
McConnell
Senate Budget Committee
Kent Conrad
D-N.c
Jacob Lew
China
George W. Bush
Iraq
Afghanistan
Great Lakes