Obama Unveils $3.83T Budget with Massive Deficits
Earlier yesterday, President Barack Obama proposed a $3.83 trillion budget designed to invest more money into fighting high unemployment, boosting taxes on the wealthy, and freezing spending for a wide swath of government programs. After a protracted battle on health care and a string of Democratic election defeats, the administration hopes its new budget will convince Americans the president is focused on fixing the economy. As per Obama’s plan, this year’s deficit would amount to a record-breaking $1.56 trillion, topping last year's $1.41 trillion gap. The deficit would remain above $1 trillion in 2011. To combat the deficit, the president…
