Obama Unveils 2014 Budget

Obama Budget

Obama Budget

It’s out a couple of months late, but today President Obama is joining the budget debate in Washington by releasing his own spending plan for 2014.

FOX News Radio’s Mike Majchrowitz reports from the White House:

Audio clip:

The President’s budget claims $1.8 trillion in deficit reduction over ten years — although $1.2 trillion of that is to replace the sequester cuts that are already in place. It calls for raising the minimum wage to $9 an hour, limiting tax deductions for the wealthy and installing the so-called ‘Buffett Rule’ where the top two percent would have to pay at least 30% in taxes. And it would change the way that entitlement cost of living increases are calculated, slowing their growth. Folks on the left don’t like that. Republicans don’t like that the President wants more tax revenue.

At the White House, Mike Majchrowitz, FOX News Radio.

Barack Obama, Jeff Zients

The President says his budget proves you can cut spending and grow investments in the nation’s priorities, but Republicans disagree.

FOX News Radio’s Mike Majchrowitz reports from the White House:

Audio clip:

In addition to increasing taxes on wealthier Americans,  the oil industry and cigarettes as well as new spending on education and construction, the President’s budget offers cuts in healthcare, discretionary spending and a reform in cost of living adjustments which he hopes will win over Republicans.

(Obama) “I don’t believe that all these ideas are optimal, but I am willing to accept them as part of a compromise.”

Senate Republican leader Mitch McConnell says the President promises more deficit reduction than he actually delivers and never reaches balance.

(McConnell) “It’s not a serious plan. For the most part, just another left-wing wish list.”

One complication for the President, his budget is late and the House and Senate already have theirs.

At the White House, Mike Majchrowitz, FOX News Radio.

CLICK HERE for the President’s 2014 Fiscal Year Budget.




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