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Obama's budget heads to Congress
President Obama sends a proposed budget to Congress aiming for four trillion dollars in deficit reduction over ten years by cutting spending and raising taxes on the wealthy. It envisions deficit declines to about 901 billion in 2013 and 575 billion by 2018, while extending payroll tax relief and preserving growth. Republicans criticize the plan as insufficient to curb Medicare costs, and debate is expected to stretch into the election year with the lame duck session looming.
MENTIONED IN THIS ARTICLE
Washington
Barack Obama
Congress
Obama
House
House Budget Committee
Paul Ryan
Wis
Senate
Mitch McConnell
Kentucky
Lew
House Republicans
Occa
Sion
White House
Congressional
Warren Buffett