Obama proposes budget plan
The budget plan President Obama presented to Congress on Feb. 1 concentrates on three things he said are critical to the nation’s economic future: energy, health care and education.
Obama’s proposed $3.8 trillion plan will cut extra spending costs, giving a tax break to first time homeowners and those who made fewer than $250,000 a year. Individuals with incomes greater than $250,000 will face a tax increase.
Obama said that decreasing unemployment is the most important thing on which to focus. Yet, according to Sen. John McCain (R-Ari.), the tax increase will hurt small-business owners because many of them make a close to that amount. Small businesses will then have to lay off more people to be able to keep their companies afloat.
Social welfare is governmental provision of economic assistance to persons in need. I feel, however, that it seems not everyone receiving social welfare is even looking for a job. The “rich” should not hold the entire burden when they already pay a great deal of taxes themselves. Everyone is suffering during this economic time, and should equally share the payment of taxes.
I’m not disagreeing completely with Obama; I’m saying only that it’s time for Democrats and Republicans to work together to do what’s right for the country. The Republicans need to step out of their ways and realize that during this time we need a bipartisan agreement to come out of this recession. No one should have in mind that by one party losing, another wins. Politicians should be concerned about how to protect their people instead of concerning themselves with the next election.
Helping struggling Americans with a $2,500 tax credit for all four years of college is a potential step to successful and sustaining employment for the 8 million Americans that have been helped. Also, by creating the American Recovery and Reinvestment Act, the government has invested $80 billion in cleaner energy sources, helping to give our economy a boost with more jobs.
The government has finally realized that we need to stop spending what we don’t have. Beginning next year, the Obama administration has called for a three-year spending freeze on many domestic programs, including ruling out NASA’s return to the moon. Because our deficit of $1.6 trillion is expected to recede to $1.3 trillion by next year, the unemployment rate will decrease and we’ll be taking a step forward toward a better economy.
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