America’s free-spending President unveiled a massive $3.83 trillion budget Monday that spends more and more on fighting unemployment while boosting taxes on the weathy and freezing spending on some government programs.
President Barack Obama’s includes a record-setting $1.56 trillion deficit — up .15 trillion over the current year.
Obama targets tax increases at energy producers and those making more than $250,000 year while freezing the budgets for homeland security and domestic programs. Military budgets are not frozen and will continue to grow.
Included in the gigantic budget is a $100 billion jobs program with tax breaks for businesses that hire new employees along with more government spending on infrastructure and engery projects.
The new budget signals a shift away from the President’s focus on health care and move towards emphasis on economic recovery — moves that the White House and Democrats hope will bolster their lagging fortunes at the ballot box.
Republicans, however, say Obama’s tax increases and ever-growing deficit adds to the budget problems that will delay any real economic recovery. Democrats will counter with claims that the President inherited a $1 trillion plus deficit and increasing spending is necessary to restore economic stability.
After a protracted battle on health care dominated his first year in office and led to a string of Democratic election defeats, the administration hopes its new budget will convince Americans the president is focused on fixing the economy.
The Presidents job programs increase 2010 government spending to $3.72 trillion, up 5.7 percent from last year. Obama’s plans for the 2011 budget year, beginning Oct. 1, increases spending to $3.83 trillion, up another 3 over this year.