Arab Today, arab today obama his budget aims to reinvigorate middle class
Last Updated : GMT 20:43:08
Arab Today, arab today
Arab Today, arab today

Obama: His budget aims to reinvigorate middle class

Arab Today, arab today

Arab Today, arab today Obama: His budget aims to reinvigorate middle class

Washington - AFP

US President Barack Obama said on Saturday his budget blueprint due to be unveiled next week will aim to reinvigorate America\'s middle class while introducing reforms to curb the mushrooming deficits. \"Our top priority as a nation, and my top priority as president, must be doing everything we can to reignite the engine of America\'s growth: a rising, thriving middle class,\" Obama said in his weekly radio address. \"That\'s our North Star. That must drive every decision we make.\" The comments followed reports that in his budget proposal, Obama will make key concessions to Republicans by offering to cut some entitlement programs like the Social Security retirement program and Medicare, a health care plan for the elderly. According to a senior administration official, the president\'s fiscal blueprint will slash the deficit by $1.8 trillion over 10 years, in what the official described as a \"compromise offer\" that cuts federal spending, finds savings in Social Security and raises tax revenue from the wealthy. While the annual budget deficit is projected at 5.5 percent of gross domestic product for the fiscal year ending in September, under the Obama budget, that would decline to 1.7 percent of GDP by 2023. Combined with the $2.5 trillion in savings already achieved since negotiations in 2010, the Obama budget would bring total deficit reduction to $4.3 trillion over 10 years, slightly higher than the overall goal agreed to by both parties for stabilizing the national debt. But the plan has drawn fire from both conservatives and liberals. Republican House Speaker John Boehner warned that Obama had \"moved in the wrong direction\" by making skimpier entitlement cuts than he had offered in negotiations with Republicans last year. Liberals immediately were upset by what they saw as Obama caving in to Republicans, with left-wing Senator Bernie Sanders pledging to \"do everything in my power to block\" Obama\'s proposal. But the president defended his ideas, saying his budget will reduce deficits not through spending cuts that will hurt students, seniors and middle-class families, \"but through the balanced approach that the American people prefer, and the investments that a growing economy demands.\" Obama said his budget blueprint would reduce the deficits by nearly $2 trillion. According to the president, that will surpass the goal of $4 trillion in deficit reduction that many economists believe will stabilize US finances. The proposal will also include closing tax loopholes for the wealthy, the president said. \"It\'s a budget that doesn\'t spend beyond our means,\" he argued. \"And it\'s a budget that doesn\'t make harsh and unnecessary cuts that only serve to slow our economy.... And we\'ll keep our promise to the next generation by investing in the fundamentals that have always made America strong -- manufacturing and innovation, energy and education.\" In a Republican address, Kansas Governor Sam Brownback said that Washington was broke and big spending programs were running out of money. He called for boosting the entrepreneurial spirit of America to achieve growth. \"Our Republican message is a belief in the power of the people more than the control of government,\" Brownback said. \"This unleashes the creativity of entrepreneurs and the strength of hope and dreams.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama his budget aims to reinvigorate middle class Arab Today, arab today obama his budget aims to reinvigorate middle class

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama his budget aims to reinvigorate middle class Arab Today, arab today obama his budget aims to reinvigorate middle class

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today US-made bomb used in fatal strike

GMT 10:16 2017 Saturday ,23 September

US-made bomb used in fatal strike
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday