Obama budget: Trim deficit with tax hikes on the rich

Obama's 2011-12 budget, for nearly $4 trillion, includes higher taxes on people earning over $200,000, private-investment managers, oil-and-gas companies, and US companies that make money in foreign countries, all of which he failed to get through the last Congress, and most of which the current, more Republican Congress is likely to resist.

Obama also calls for more aid to solar and wind energy, electric cars, high-speed trains and the Securities and Exchange Commission; and confirms a big drop in military spending as we cut back on the US wars in Afghanistan and Iraq; along with smaller cuts (or at least slower increases) in student loan subsidies and most other government programs.

Read the budget and other Obama propaganda here.

Republicans say Obama doesn't cut enough government spending. They'd like to see less medical aid to the poor, among other additional cuts.

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