Categorized | National News

Pres. Obama Unveils Ambitious $3.8 Trillion Budget

WASHINGTON — Taking a pass on reining in government growth, President Barack Obama unveiled a record $3.8 trillion election-year budget plan Monday, calling for stimulus-style spending on roads and schools and tax hikes on the wealthy to help pay the costs. The ideas landed with a thud on Capitol Hill.

Though the Pentagon and a number of Cabinet agencies would get squeezed, Obama would leave the spiraling growth of health care programs for the elderly and the poor largely unchecked. The plan claims $4 trillion in deficit savings over the coming decade, but most of it would be through tax increases Republicans oppose, lower war costs already in motion and budget cuts enacted last year in a debt pact with GOP lawmakers.

Many of the ideas in the White House plan for the 2013 budget year will be thrashed out during this year’s election campaigns as the Republicans try to oust Obama from the White House and add Senate control to their command of the House.

“We can’t just cut our way into growth,” Obama said at a campaign-style rally at a community college in the vote-rich Northern Virginia suburbs. “We can cut back on the things that we don’t need, but we also have to make sure that everyone is paying their fair share for the things that we do need.”

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