Obama: $3.6 trillion federal budget
Recent news article spotted on Yahoo! News: Obama budget: Mammoth deficits but headed lower.
WASHINGTON – President Barack Obama charted a dramatic new course for the nation Thursday with a bold but contentious budget proposing higher taxes for the wealthy and the first steps toward guaranteed health care for all — accompanied by an astonishing $1.75 trillion federal deficit that would be nearly four times the highest in history.
Denouncing what he called the “dishonest accounting” of recent federal budgets, Obama unveiled his own $3.6 trillion blueprint for next year, a bold proposal that would transfer wealth from rich taxpayers to the middle class and the poor.
Is America destined to become a socialist nation? Shall we follow the lead of France, with low productivity, endless government subsidies and outragous taxes and allow India and China to take the lead as global economic superpowers?