Obama’s Budget Hits the Wealthy, the Wars, and the Deficit Hawks Americans can look forward to another government stand-off after Obama’s budget is released later today. “Like the 2012 budget, it has no chance of being adopted by Congress,” writes The Washington Post’s Ezra Klein. GOP-ers will be incensed by the budget, most of all because it breaks Obama’s promise to halve the deficit. Republican Paul Ryan has fired the first shot in this battle, telling POLITICO that We face a totally predictable debt crisis, and this is the fourth year in a row that the president has ducked it. I honestly thought he would triangulate after the 2010 elections, but he’s moved left. WaPo’s Klein defends the broken deficit promise, arguing that “fulfilling that promise” would have been “a dumb thing to do.” Who are the winners of Obama’s budget, released later today? Roads, infrastructure, manufacturing, and education all get a cash injection. The unemployed get extended benefits, and workers get a longer payroll tax holiday, according to The Washington Post’s Lori Montgomery. And the budget’s losers? Corporations and the wealthy, who’ll see tax hikes adding up to $1.5 trillion, and the wars in Iraq and Afghanistan, which get spending caps.
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Obama’s Budget Hits the Wealthy, the Wars, and the Deficit Hawks

Americans can look forward to another government stand-off after Obama’s budget is released later today. “Like the 2012 budget, it has no chance of being adopted by Congress,” writes The Washington Post’s Ezra Klein.

GOP-ers will be incensed by the budget, most of all because it breaks Obama’s promise to halve the deficit.

Republican Paul Ryan has fired the first shot in this battle, telling POLITICO that

We face a totally predictable debt crisis, and this is the fourth year in a row that the president has ducked it. I honestly thought he would triangulate after the 2010 elections, but he’s moved left.

WaPo’s Klein defends the broken deficit promise, arguing that “fulfilling that promise” would have been “a dumb thing to do.”

Who are the winners of Obama’s budget, released later today?

Roads, infrastructure, manufacturing, and education all get a cash injection. The unemployed get extended benefits, and workers get a longer payroll tax holiday, according to The Washington Post’s Lori Montgomery.

And the budget’s losers? Corporations and the wealthy, who’ll see tax hikes adding up to $1.5 trillion, and the wars in Iraq and Afghanistan, which get spending caps.

Source: topix.com