Obama unveils $3.8 trillion budget
February 13th, 2012
11:27 AM ET
8 years ago

Obama unveils $3.8 trillion budget

New York (CNNMoney) - President Obama unveiled a $3.8 trillion budget request Monday that hikes taxes on the rich, spends new money on infrastructure and education, but does little to reform the entitlement programs that pose the biggest long-term threat to the federal budget.

"We built this budget around the idea that our country has always done best when everyone gets a fair shot, everyone does their fair share and everyone plays by the same rules," Obama said in his budget message.


Filed under: Budget • President Obama
soundoff (29 Responses)
  1. roadwarrior

    god bless america because obama wont

    February 13, 2012 12:43 pm at 12:43 pm |
  2. WiredweirdinSF

    $1.4 trillion in new taxes. That is the Obama we all despise and why we despise him. The new taxes are coming from those working, taking personal responsibility for their lives, living leagally, not doing drugs and not taking the democrat liberal payoffs for their votes. Ocorrupta would not think of maybe taxing the freeloaders who vote for him, the pig.

    February 13, 2012 12:47 pm at 12:47 pm |
  3. Jules

    Hammerer, If you watch Greece you will see what happens when you try to fix the economy through austerity alone. And if try to implement cuts, cuts, cuts here without raising revenue, you will start to see the same thing here. People will do some desperate things when they can't feed or house their children.

    February 13, 2012 12:57 pm at 12:57 pm |
  4. Truth and Nothing But the Truth

    Well this is proof positive that Obama is intentionally trying to bankrupt this country. No sane indiviudal, after watching what is going on over in Greece and other European countries, would propose this sort of "budget". In ten years, we'll be at 20-25 TRILLION in debt. If interest rates rise, AS THEY MUST, our money will be going to pay interest on the debt and nothing will be left for much of anything else.

    If Obama is re-elected and this is our future, this country WILL FALL. Obama will have succeeded where Osama bin Laden failed, in destroying the USA.

    February 13, 2012 12:58 pm at 12:58 pm |
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