Changes

===2010 Budget===

===2010 Budget===

Congress by party line votes in late April passed the  budget Obama had proposed in late February. It calls for $3.4 trillion in new spending, not vcounting the $787 billion in stimuls spending approved in Febuary, nor the trillions in loan guarantees to banks.  The new budget allocates $1.2 trillion for defense, and an additional $130 billion for the wars in Afghanistan and Iraq. Nondefense spending wwill increase by 8% or $40 billion. The budget will allow the Obama health plan--which has not been written--to move through Congress on a fast track without risk of filibuster. The Bush tax cuts are extended, and some new cuts added for lower income Americans.  However the federwal income tax on individuals over $200,000 will rise from 35% to 39.6%.   

Congress by party line votes in late April passed the  budget Obama had proposed in late February. It calls for $3.4 trillion in new spending, not counting the $787 billion in stimuls spending approved in Febuary, nor the trillions in loan guarantees to banks.  The new budget allocates $1.2 trillion for defense, and an additional $130 billion for the wars in Afghanistan and Iraq. Nondefense spending will increase by 8% or $40 billion. The budget will allow the Obama health plan--which has not been written--to move through Congress on a fast track without risk of filibuster. The Bush tax cuts are extended, and some new cuts added for lower income Americans.  However the federwal income tax on individuals over $200,000 will rise from 35% to 39.6%.   

The Tax Foundation says that 44% of all tax filers will have no tax liability and most of those will get a check from the government especially from the Earned Income Tax Credit (EITC)<ref>EITC is a conservative idea first proposed by Milton Friedman, enacted under Republican presidents Ford and Reagan.</ref> and credits for college tuition and child care. The ''Wall Street Journal'' noted about Obama's plan that, "Once upon a time we called this 'welfare'". <ref>http://online.wsj.com/article/SB122385651698727257.html</ref>

The Tax Foundation says that 44% of all tax filers will have no tax liability and most of those will get a check from the government especially from the Earned Income Tax Credit (EITC)<ref>EITC is a conservative idea first proposed by Milton Friedman, enacted under Republican presidents Ford and Reagan.</ref> and credits for college tuition and child care. The ''Wall Street Journal'' noted about Obama's plan that, "Once upon a time we called this 'welfare'". <ref>http://online.wsj.com/article/SB122385651698727257.html</ref>

The Budget assumes federal deficit of $1.75 trillion for 2009, or 12.3% of GDP--the highest deficit in percentage terms since World War II. By 2013, the hypothetical deficit will drop to $533 billion but then will begin to climb again. The budget includes an additional $250 billion for more rescues of the financial markets by purchasing toxic assets on the banking sector's books.

The Budget assumes federal deficit of $1.75 trillion for 2009, or 12.3% of GDP--the highest deficit in percentage terms since World War II. By 2013, the hypothetical deficit will drop to $533 billion but then will begin to climb again. The budget includes an additional $250 billion for more rescues of the financial markets by purchasing toxic assets on the banking sector's books.

The budget reorders national priorities to provide national health care, shift the energy economy away from oil and gas, and raise the federal spending on schools. The budget passed on party line votes.

The budget reorders national priorities to provide national health care, shift the energy economy away from oil and gas, and raise the federal spending on schools.  

[[Image:Budget-cbo.jpg|thumb|250px|left]] The Congressional Budget Office (CBO) estimates the Obama plans will raise the national debt far more than Obama says. The CBO says the Obama plan will cause total deficits over the next ten years of $9.3 trillion, compared to Obama's estimate of "only" 7 trillion. That is in addition to the current national debt of $11 trillion and rising.  The annual GDP by contrast is about $15 trillion and falling.<ref> Jackie Calmes, "New Deficit Forecast Casts Shadow on Obama Agenda," [http://www.nytimes.com/2009/03/21/washington/21deficit.html?th&emc=th ''New York Times'' Mar. 20, 2009]</ref> Senator Jedd Gregg says that Obama's budget will double the national debt in five years and triple it in ten. <ref>http://www.politifact.com/truth-o-meter/statements/2009/mar/25/judd-gregg/judd-gregg-says-obamas-budget-doubles-national-deb/</ref>

[[Image:Budget-cbo.jpg|thumb|250px|left]] The Congressional Budget Office (CBO) estimates the Obama plans will raise the national debt far more than Obama says. The CBO says the Obama plan will cause total deficits over the next ten years of $9.3 trillion, compared to Obama's estimate of "only" 7 trillion. That is in addition to the current national debt of $11.2 trillion and rising.  The annual GDP by contrast is about $15 trillion and falling.<ref> Jackie Calmes, "New Deficit Forecast Casts Shadow on Obama Agenda," [http://www.nytimes.com/2009/03/21/washington/21deficit.html?th&emc=th ''New York Times'' Mar. 20, 2009]</ref> Senator Jedd Gregg says that Obama's budget will double the national debt in five years and triple it in ten. <ref>http://www.politifact.com/truth-o-meter/statements/2009/mar/25/judd-gregg/judd-gregg-says-obamas-budget-doubles-national-deb/</ref>

To reverse global warming, Obama has proposed a carbon [[cap and trade]] system, which will raise energy prices for  families and businesses, with rebates to most families. It will cost an extra $645 billion between 2012 and 2019, which will result in higher prices. Rep. John Boehner said, "Let's just be honest and call it a carbon tax that will increase taxes on all Americans who drive a car, who have a job, who turn on a light switch, pure and simple."<ref>see [http://online.wsj.com/article/SB123566843777484625.html comment from conservative newspaper]</ref>

To reverse global warming, Obama has proposed a carbon [[cap and trade]] system, which will raise energy prices for  families and businesses, with rebates to most families. It will cost an extra $645 billion between 2012 and 2019, which will result in higher prices. Rep. John Boehner said, "Let's just be honest and call it a carbon tax that will increase taxes on all Americans who drive a car, who have a job, who turn on a light switch, pure and simple."<ref>see [http://online.wsj.com/article/SB123566843777484625.html comment from conservative newspaper]</ref>