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As part of his pitch, Obama is proposing significant reductions in Medicare spending and for the first time is offering to tackle the rising cost of Social Security, according to people in both.
Much of the growth in annual budget deficits for which Obama was blamed, however, was due to the Great Recession and the Bush tax cuts– things he had no control over. Stopping "out-of-control spending," in the form of the president’s stimulus package and other policies, became one of the nascent tea party’s rallying cries.
In exchange, Obama is insisting on $580 billion in tax increases. president put on the table during debt ceiling talks with the GOP in the summer of 2011. Obama aides say the president had to.
Obama First To Put Tax Increases On Budget Table By Elyse Siegel WASHINGTON – Higher taxes have been missing from the fierce budget battle that nearly shut down the federal government.
(CNSNews.com) – Barack Obama was the first president of the United States to spend more on "means-tested entitlements"-AKA welfare-than on national defense, according to data published by his own Office of Management and budget. historical tables that the OMB posted on the Obama White House website, include annual totals for both "national defense" spending and "means-tested.
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In a letter to President Obama, the Republicans said their proposal amounts to a $2.2 trillion deficit reduction package and is based on a plan put forth by Democrat Erskine Bowles to last year’s.
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Full List of Obama Tax Hikes 1. A 156 percent increase in the federal excise tax on tobacco: On February 4, 2009, just sixteen days into his Administration, Obama signed into law a 156 percent increase in the federal excise tax on tobacco, a hike of 61 cents per pack.
As Alberto Alesina of Harvard, Daniel Leigh of the International Monetary Fund, and Kevin Hassett of the american enterprise institute all argued at The Heritage Foundation. with tax increases?.
6 days ago · This increase will help relieve school districts of severe financial burdens, again, providing real property tax relief to homeowners. The budget also increased support for NJ Transit by $150 million.
A bevy of new education programs are introduced, including universal pre-K and a matching fund to help public universities "increase. trade plan to put a price on carbon emissions, Obama doesn’t.