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Yahoo.com : How the Obama budget might fall on your shoulders


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Again, It's a step in the right direction, I do agree with the increase in revenue to help battle this deficit of ours.....


WASHINGTON – Crumbling inner-city sidewalks, cleaner air, dirtier drinking water, more debt for some college students and higher heating costs for low-income families could be part of the legacy of President Barack Obama's proposed budget. One way or another, his effort to save money in hundreds of programs might touch every American.

No rewrite of the family budget is called for at this point. Obama's plan is little more than a wish list, certain to be reshaped by Congress if it even goes anywhere. (Last year's wish list didn't.)

But it shows where Obama wants to go, how he proposes to get there and, to some extent, what spending cuts and increases he is willing to fight for in a divided Congress where Republicans want to cut far more.

So if you are an older worker looking for the government's help training for a new job, for example, you might get a little nervous. Obama wants to halve a program that helps seniors with career or community service training.

Obama's budget would squeeze the poor on several fronts, the rich on one big front — their taxes — and others in scattered ways.

People living in or needing public housing will take a hit if he gets his way. Obama wants to spend much less to maintain public housing and to build new homes for the elderly and disabled. He also wants to cut by half the grants that provide poorer families with substantial help paying their energy bills.

And low-income students may feel a pinch with the president's plan to eliminate Pell grants for summer school. The savings would be used to keep the maximum Pell grant for the regular academic year uncut.

When a Democratic president and Republican lawmakers want to cut the same program, it's a safe bet that program is at risk. So it is with public housing, some environmental programs and certain other areas of spending.

Tax increases, though, are a much iffier proposition. In his budget, Obama proposes once more to raise taxes on the rich, not just increasing their rates but limiting their charitable, mortgage-interest and state-tax deductions. He gave up trying to increase taxes on the wealthy in the last round of wrangling but is trying again.

Click link for rest of article............

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