President Obama releases new budget plan

President Obama released his new budget plan for 2013 on Monday. The goal is to cut the deficit by $3 trillion over the next 10 years. It includes $476 billion for infrastructure and transportation and $300 billion in stimulus. Obama says this can be achieved by $1.5 trillion in new taxes, $800 billion in money saved from pulling out of the war, and other massive spending cuts.
 It’s being call “the blueprint to protect the middle class,” as the president spoke about creating opportunity especially in education and taxing those who he thinks needs to be taxed the most. “Warren Buffet is doing fine. I’m doing fine. We don’t need the tax breaks,” Obama said.  Republicans believe that this plan with have the same fate as the plan Obama proposed in 2009 which was looked at as a failure.
It is not expected for this proposal to pass in Congress as it is being called a gimmick just for the up coming election. Financial analyst believe that there just is not enough time or money for a new plan.
The national deficit is now $15.3 trillion.