President Barack Obama on Thursday proposed his first budget to Congress. He wants to let the Bush administration's tax cuts for the wealthiest Americans end next year, replaced by a middle-class tax cut.
President Obama on Thursday made its first budget to Congress. He hoped that next year the end of the Bush administration's tax cuts wealthy Americans (scheme), and replaced by middle-class tax cut (the program).
His other proposals include six hundred thirty-four billion dollars over ten years for health care reform. But he hopes to raise billions through a system in which businesses that release greenhouse gases would buy and trade pollution permits.
Other programs include 10-year $ 63.4 billion in health-care reform. However, he hopes a mechanism to raise billions of dollars, this mechanism is the company's greenhouse gas emissions to buy pollution permits, and can be traded.
In all, his plan calls for three and a half trillion dollars in federal spending for the two thousand ten budget year starting in October. It also predicts for this year the biggest deficit, as a share of the economy, since World War Two: one trillion seven hundred fifty billion dollars.
In short, he needs to plan the 2010 annual budget since the beginning of October, federal spending $ 3.5 trillion. This year since World War II (have) the largest deficit, which is part of the US economy: 1.75 trillion US dollars.
But the president says he inherited a trillion-dollar deficit. And he says his team has already identified two trillion dollars in reductions to help cut the deficit in half within four years. Targets include war spending and direct payments to large agricultural businesses.
However, the president said he inherited a $ 1 trillion deficit. In addition, he said, his team has found a decrease of $ 2 trillion (area), so that the deficit in half within four years. The goals include direct payment of war expenses and large agricultural companies.
Republicans say the budget is too big and that the proposed tax increase on the wealthy would hurt small businesses.
Republicans say the budget is too large, the rich and the proposed tax increase would hurt small businesses.
The new president gave his first speech to Congress Tuesday night.
The new president Tuesday night in the first speech in Congress.
BARACK OBAMA: "We will rebuild, we will recover, and the United States of America will emerge stronger than before."
Barack Obama: "We will rebuild, we will recover, and the United States more powerful than before."
He discussed the seven hundred eighty-seven billion dollars in spending and tax cuts that he signed into law last week.
He discussed last week signed into law, the $ 787 billion spending and tax cuts (Act).
BARACK OBAMA: "Over the next two years, this plan will save or create three-point-five million jobs. More than ninety percent of these jobs will be in the private sector -- jobs rebuilding our roads and bridges, constructing wind turbines and solar panels, laying broadband and expanding mass transit."
Barack Obama:. "Over the next two years, this plan will save or create 3.5 million jobs (opportunities) more than 95% of these opportunities are in the private sector: rebuilding roads and bridges, the construction of wind turbines and solar panels, laying broadband and expand job opportunities in the field of mass communication.
He also discussed his budget plan for next year, saying Congress will need to sacrifice some programs but think long term.
He also plans to discuss the budget for next year, he said Congress would need to sacrifice some projects, but require long-term consideration.
BARACK OBAMA: "That is why, even as it cuts back on programs we don't need, the budget I submit will invest in the three areas that are absolutely critical to our economic future: energy, health care, and education."
Barack Obama: "This is the reason we do not need to cut the project submitted by me and investment in three areas of the budget, these three areas is extremely important to our economic future: energy, health and education."
To answer for the opposition, the Republicans chose Bobby Jindal, the young governor of Louisiana and the son of Indian immigrants. He said Republicans want to work with the president. But he said Democrats in Congress chose "irresponsible" spending over tax cuts, as Republicans proposed for the economic recovery plan.
In order to explain the objections (opinion), Republicans chose Bobby Jindal, he was the governor of Louisiana, also descendants of Indian immigrants. He said Republicans want to cooperate with the President; however, he said, Congress of Democrats chose tax cuts in terms of "not responsible" spending, tax cuts and the Republicans for the economic recovery plan proposed.
BOBBY JINDAL: "It includes three hundred million dollars to buy new cars for the government, eight billion dollars for high-speed rail projects, such as a 'magnetic levitation' line from Las Vegas to Disneyland, and one hundred forty million dollars for something called 'volcano monitoring.' Instead of monitoring volcanoes, what Congress should be monitoring is the eruption of spending in Washington, D.C."
Bobby Jindal: "It includes the government's $ 300 million purchase of new cars, such as for from Las Vegas to Disneyland" maglev "like the $ 8 billion high-speed rail projects, as well as" $ 150 million in volcano monitoring "and the like Congress needs to monitor the outbreak in Washington spending, rather than monitoring the volcano erupted.
Stock prices in the United States hit twelve-year lows this week.
This week, US stocks (index) hit 12-year low.
Glossary:
Propose
| propose |
| vt. & We. |
| Proposal; recommended |
| They proposed to make arrangement beforehand. |
| They proposed to make arrangement. |
Reproduced in: https: //www.cnblogs.com/licheng/archive/2009/03/02/1401167.html