Obama’s Budget Includes $7.3T in New Debt, $800B Tax Hike

According to reports President Obama’s nearly 2 month late Budget is nothing near balanced.  In fact, it will include $800 Billion in Tax Hikes and  $7.3 Trillion in New Debt.

image001_1The Republican side of the Senate Budget Committee is breaking down President Obama’s budget with this preliminary analysis:

The budget will be released next week “The figures regarding the President’s plan are based on numbers reported in the media today, the table posted on the White House (WH) website, and information regarding Senator Murray’s budget resolution,” says the minority side of Senate Budget Committee.

“Senator Murray, in touting her budget, talks about $4 trillion in deficit reduction, but that figure uses baseline gimmicks to exclude the cost of turning off the sequester, and the assumptions that the annual doc fix and continuing the 2009 stimulus does not need to be paid for.  The $1.3 trillion cost for those items are CBO estimates included in the Murray budget.  Because the media also reports that the president plans to cancel the sequester, it is reasonable to conclude that the President will have the same costs buried in his baseline as well since Obama also talks about $4 trillion in deficit reduction.

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About Albert N. Milliron 6991 Articles
Albert Milliron is the founder of Politisite. Milliron has been credentialed by most major news networks for Presidential debates and major Political Parties for political event coverage. Albert maintains relationships with the White House and State Department to provide direct reporting from the Administration’s Press team. Albert is the former Public Relations Chairman of the Columbia County Republican Party in Georgia. He is a former Delegate. Milliron is a veteran of the US Army Medical Department and worked for Department of Veterans Affairs, Department of Psychiatry.

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