Monday, February 14, 2011

Obama unveils $3.73 trillion budget for 2012

http://news.yahoo.com/s/ap/20110214/ap_on_re_us/us_obama_budget

President Barack Obama is sending Congress a $3.73 trillion spending blueprint that pledges $1.1 trillion in deficit savings over the next decade through cuts in spending and tax increases. Obama's new budget projects that the deficit for the current year will surge to an all-time high of $1.65 trillion. That reflects a sizable tax-cut agreement. For 2012, the administration sees the imbalance declining to $1.1 trillion, giving the country a record four straight years of $1 trillion-plus deficits.

This relates to government becauses the deficit is something that the united states has been dealing with for many years now.

I think that it's good that President Obama's new spending plan will improve The United States debt but if he increases taxes a lot then Americans will suffer because we already can't pay our bills and taxes so if they are increased i would imagine that wouldn't help the situation.

1 comment:

  1. I agree that America needs more money, but people can't afford for their taxes to go up. A lot of people aren't even making ends meet now, so they can't afford any more in taxes. There should be a way for the governemnt to make more money thru other ways or even asking the rich to donate thru a fundraiser or something. And the government could agree to giving them a tax cut or something if they participate. But the deficit keeps getting worse and that's not helping anything really.

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