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Obama's final budget

Tuesday, February 09, 2016 - 01:18

President Obama proposed a $4.1 trillion spending plan for fiscal year 2017 in a final White House budget that met immediate Republican resistance. Deborah Lutterbeck reports.

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President Barack Obama's final budget proposal is delivered to Capitol Hill. His proposal includes $2.9 trillion in deficit reduction over 10 years, largely by curbing tax breaks for the wealthy and proposing new savings in the Medicare and Medicaid health care programs. (SOUNDBITE) (English) U.S. PRESIDENT BARACK OBAMA, SAYING: "The budget that we are releasing today reflects my priorities." The proposal gives the Democratic President, who leaves office in January, a chance to make a last pitch for funding. (SOUNDBITE) (English) U.S. PRESIDENT BARACK OBAMA, SAYING: "It drives down the deficit, it includes smart savings on healthcare, immigration, tax reform. And it strengthens our national security by increasing defense spending and advancing our global leadership through diplomacy and development." The plan is primarily a political document and is unlikely to be embraced by the Republican-controlled Congress -- although White House officials sought to play down the portrayal of the budget as dead on arrival -- noting bipartisan support for cancer research, opioid addiction programs and an expansion of the earned income tax credit (EITC), which helps low-income taxpayers.

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Obama's final budget

Tuesday, February 09, 2016 - 01:18