Monday, 14 February 2011

Budget sets battle over cuts

WASHINGTON — President Obama on Monday unveiled his $3.7 trillion budget plan for 2012 at a middle school in Baltimore, saying his proposals are designed "so that every American is equipped to compete with any worker anywhere in the world."
The budget would trim Pell college grants and low-income heating aid, raise taxes on upper-income taxpayers and oil companies and slash $1.1 trillion from the deficit over 10 years.
Obama called his investments in education an "essential" part of the budget to ensure that "our people will prosper and our country will succeed."
But he said "the only way we can make these investments … is if our country starts living within our means."
Acknowledging that there will be deep cuts to programs he says he cares "deeply" about, such as Community Development Block Grants, Obama said, "if we're going to walk the walk when it comes to fiscal discipline, these cuts will be necessary."

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