President Obama Scores Major Victory with Approval of $3.5 Billion Budget! (276 hits)
(Taylor Media Services) President Barack Obama last week scored a major congressional victory with the approval of his $3.5 billion budget. Obama will now be able to pursue his expansive agenda which includes healthcare coverage for the uninsured, additional funds for college loans and a cap-and-trade system designed to reduce gases which are thought to contribute to global warming.
The victory, however, came almost exclusively along party lines as virtually no Republicans in either the House or the Senate voted for the Obama budget which they labeled too expensive. But Democrats countered that the funds were needed to rebuild an economy which was ruined by eight years of budgets under the administration of former President Bush. Regardless of the success by the president, the Obama budget will create a $1.2 trillion deficit for next year and large annual deficits for years into the future.
