President Obama’s Four-TRILLION Dollar Budget Sets Up Fight with Congress

President Obama's Weekly Address on the new budget proposal, "A Path Towards a Thriving Middle Class" (Video by White House).

LINK TO PRESIDENT OBAMA'S BUDGET: http://www.whitehouse.gov/omb/budget/

Story by Bloomberg News
Written by Jonathan Allen

President Barack Obama will send a $4 trillion budget blueprint to Congress today that would raise taxes on corporations and the nation’s top earners, fund major investments in infrastructure and education and stabilize, but not eliminate, the annual U.S. budget deficit.

The plan challenges Republicans to make politically thorny choices between defending current tax rates for the wealthy and Obama’s proposals to boost spending for the middle class, the Pentagon and companies that build domestic infrastructure.

That’s exactly the ground Democrats want to fight on heading into the 2016 elections. Addressing income inequality has become a mantra for Democrats from Obama to 2016 presidential nomination front-runner Hillary Clinton, and some of the Republican contenders have taken up the issue as well.

The budget plan for the fiscal year starting Oct. 1 backs up Obama’s recent talk about directing assistance to the middle class with tax breaks and programs for education, job training and child care, administration officials said. Rather than dialing back his goals after Republicans expanded their House majority and took control of the Senate in November’s midterm elections, the president is pursuing a more aggressive strategy.

Republicans were out with criticism even before the budget documents arrived at the Capitol.

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Read more: http://www.bloomberg.com/news/articles/2015-02-02/obama-s-4-trillion-budget-sets-up-fight-with-congress