Videos

Obama Budget Big On Ideals, But With Small Chance Of Passage

wochit business
|
March 04, 2014 AT 3:18 PM
President Obama on Tuesday sent Congress an election-year budget request that reflects Democratic ideals, emphasizing increased spending on domestic initiatives for education, public works and research paid for by ending tax breaks for the wealthy and some corporations, rather than continued budget-cutting. Obama’s budget for the 2015 fiscal year that begins October 1st is mostly a familiar volume that seeks, for the sixth time, to balance investments to help the economy and spread economic opportunities, against continued spending cuts and tax increases to continue reducing annual deficits. Republican opposition will again probably block most proposals, but Democrats hope the debate will sharpen the contrasts between the parties’ views of government’s role in society, to their political advantage.