Obama Unveils Vision To Save US Economy

14 February 2012 - Which Way to Pay

Obama Unveils Vision To Save US Economy

President Obama has set out the fundamentals for his last US budget before the election, urging Congress not to stand in the way of “America’s comeback.” Obama said his new 2013 budget will ensure the US economic recovery stays on track and will provide short-term help to a struggling economy while offering a long-term plan to deal with soaring deficits. The budget will pump billions of dollars into the still struggling economy in key areas such as education, transportation and jobs but it does include tax increases for wealthier groups.  At a campaign style rally, where Obama chose to release specific details, he pushed for more programs like education saying that, “We can’t cut back down on those things that important for us to grow.” He added that while the economy was speeding up there was still a long way to go to make sure people can get the jobs they need.

Obama’s $3.8 trillion budget proposal has come under heavy fire from Republicans for failing to curb huge deficits. Many have argued that it is more of a campaign document that shifts the focus from deficits to economic growth. According to Obama however the proposal is a “reflection of shared responsibilities.” He said “We have no choice. We can settle for a country where a few people do really, really well and everybody else struggles to get by. Or we can restore an economy where everybody gets a fair shot, everybody does their fair share, everybody plays by the set of rules, from Washington to Wall Street to Main Street.”