President Barack Obama’s much awaited budget proposal was released Wednesday; unsurprisingly, it calls for nearly $300 billion in increased Federal spending on government make-work projects, coupled with $800 billion in tax hikes over the next 10 years.
To sweeten the deal for Republicans, the budget calls for $1 trillion in cuts throughout government and even targets Social Security for the first time.
“Our economy is poised for progress, as long as Washington doesn’t get in the way,” Obama said in announcing his budget plan.
The President described his plan as “a fiscally responsible blueprint for middle-class jobs and growth.”
Republicans like House Budget Committee Chairman Paul Ryan (R-Wis.) have expressed discontent with the President’s proposal because it does little to change the Federal spending status quo. But some pundits, noting how the GOP previously caved on tax hikes, aren’t so sure how serious the party is about defeating the Democrat proposal.
Obama is slated to dine with a dozen rank-and-file Republicans at the White House Wednesday evening.