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Obama's budget focuses on job creation

The Los Angeles Times, 14 February 2012
Publié le : 14 février 2012
 Kathleen Hennessey and Christi Parsons 
Reporting from Washington President Obama called for more spending on community colleges, job training, infrastructure, and research and development as he touted an election-year budget that seemed to complete his shift in focus from budget cutting to job creation.

Arguing that the country can't "cut our way to growth," Obama delivered a $3.8-trillion budget plan to Congress and blew through a promise to cut the deficit in half by the end of his first term. Obama's budget projects a $1.3-trillion deficit in fiscal year 2012 and $901 billion in 2013, both over the $700 billion that would have made good on his pledge.

A central and controversial feature of the budget is a proposal to ask the wealthy to shoulder more of the burden of paying down the deficit. The 2013 budget counts $1.5 trillion in increased taxes, including the expiration of the George W. Bush-era tax cuts for top earners, increased estate taxes and higher rates on investment income.

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mise à jour le 14 février 2012
Créé le 14 février 2012
ISSN 2107-7029
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