GOP Critics Diss on Obama's 3.8 Trillion Budget Plan
Treasury Secretary Geithner defended the 3.8 trillion spending plan before the Senate Finance Committee arguing only 2 percent of rich families would face new taxes. He warned deeper cuts now would hurt growth and increase poverty while outlining a framework for corporate tax reform and elimination of various business tax breaks.
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Defense chiefs back Obama budget plan in Senate hearing
Defense Secretary Leon Panetta and Joint Chiefs Chair Martin Dempsey defended a $614 billion 2013 defense budget despite GOP opposition. They argued the plan preserves U S advantage with manageable risk, shifting focus to Asia, the Middle East and cyberspace while slashing Army and Marine Corps size and delaying some ships and fighters.
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