President Barack Obama’s first budget is his clearest opportunity to date to put U.S. money where his mouth is by establishing priorities for his new administration.
The big winners in the new budget are:
* THE BANKING INDUSTRY. The budget sets aside $250 billion as a “placeholder” if Obama decides to ask Congress for more money to help the troubled U.S. financial system. Officials said such a decision has yet to be made.
* CLIMATE CHANGE POLICY. The budget includes billions of dollars in revenues, starting in 2012 and lasting many years, from a greenhouse gas emissions trading system, one of Obama’s key proposals to fight global warming.
* HEALTHCARE OVERHAUL. The budget includes a 10-year, $634-billion reserve fund to help pay for the president’s proposed healthcare reforms.
* PUBLIC WORKS. Officials are trying to jolt the faltering economy in the face of 14 months of recession with public-works spending.
* MIDDLE CLASS. Tax cuts would benefit the U.S. middle class.
I recommend a list of big losers. * Productive taxpayers.
Hi lekowitz thanx for the visit……..it seems the taxpayer is always the big loser in ANY admin.
How about the losers? I haven’t looked at it myself yet but if what I’ve heard (from a biased source) is true, this is going to be class warfare.
Morning Terrant…yep …the lines are being drawn as we speak…..IMO.
Unfortunately the lower class/lower-middle class is growing rapidly. Too bad they’re being jipped from this budget, for the most part.
So true……all tax cuts will be short lived….if any other of the taxes go up like the gas tax or a new mileage tax then the middle class will screwed as usual.