RSS Feed
April 10th, 2013 
FAKE NEWS for the Zionist agenda
The White House unveiled a budget Wednesday that makes deep cuts into the U.S. deficit by raising taxes on the wealthy and by replacing the sequester cuts, according to CBS.
Obama’s spending blueprint for the 2014 budget year would accomplish the deficit cuts through a combination of further tax increases, further reductions in the growth of spending and reductions in Social Security and Medicare, and creating itemized deduction caps for taxes.
The 2014 budget includes a series of large numbers:
- $3.77 trillion in spending
- $744 billion deficit
- $580 billion in net revenue from higher taxes on wealthy income earners
- $50 billion in road repair and mass transit spending
- $210 billion in savings from lower interest payments
- $400 billion in health care savings, primarily through higher costs imposed on doctors, hospitals and drug companies
- $200 billion in new discretionary spending cuts divided equally between defense and non-defense programs.
The president’s spending and tax plan for the budget year that begins Oct. 1 is two months late. The administration blames the delay on the lengthy “fiscal cliff” negotiations at the end of December and then fights over the March 1 automatic spending cuts.
Among the new spending proposals being added are a universal preschool proposal (to be paid for by an increase in federal tobacco taxes,) and $50 billion in new infrastructure spending. The budget also factors in savings from the withdrawal of troops from Afghanistan and Iraq.
In his 2013 budget, Mr. Obama sought $3.80 trillion in spending and projected a deficit of $901 billion.
CBS and other sources project that the 2014 budget will irritate people on both sides of the political line, giving everyone something they can hate.
Obama is due to release his full budget at 11:15 a.m. EST and to make remarks at that time.
Source Article from http://www.examiner.com/article/2014-white-house-budget-higher-taxes-3-77-trillion-spending-plan?cid=rss
Views: 0
Posted in 
