February 11, 2012

Obama Bets Other Concerns Will Trump Deficit

Jonathan Weisman, New York Times


AP Photo

President Obama will lay out a budget blueprint on Monday that amounts to an election-year bet that a plan for higher taxes on the rich and more spending on popular programs like infrastructure and manufacturing will trump concerns over the deficit.

The new budget proposal contrasts with the deficit-cutting promises that attended the budget rollout last year and the debates that followed. Figures released on Friday indicate that the White House foresees a slightly higher deficit in the current fiscal year than the $1.3 trillion deficit of the 2011 fiscal year, even after the budget battles that dominated Washington last year.

 

Read Full Article ››

Related Topics: budget, Barack Obama

RECOMMENDED ARTICLES

May 17, 2012
Dems in Despair on Wisconsin
Christian Schneider, New York Post

On Monday, local party officials began complaining bitterly about the lack of resources national Democratic groups are committing to the recall effort in Wisconsin. “We are frustrated by the lack of support from the... more ››

If last week's elections are any predictor, not only are Greeks balking, but France, too, is resisting further austerity, calling instead for more government-financed "growth," oblivious that the deficits and high-risk debt that... more ››

May 6, 2012
How Big Government Makes Life Worse
Steven Greenhut, Reason

Steven Greenhut | May 4, 2012Occupy Wall Street protesters are reminiscent of writer R. Emmett Tyrrell's criticism of radical feminists: They don't know what they want, but they want it very badly. On May Day, the protesters tied... more ››

May 6, 2012
Looting Detroit As Nation Sleeps
Walter Russell Mead, American Interest

Few readers will be surprised to learn that decades of incompetence and entrenched corruption in Detroit’s government have not only helped wreck the city; firms linked to former Democratic mayor Kwame Kilpatrick also looted... more ››

May 7, 2012
In Europe, "Austerity" Means More Spending
Brian Doherty, Reason

...but in the numbers? Paul Krugman is thrilled that the voters of France and Greece are fighting back against "austerity." While he has plenty of words to work with, he says not a one about actual government spending... more ››