February 10th, 2016
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#1
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Senior Member
Join Date: Nov 2013
Location: France
Posts: 5,779
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Obama proposes US$4.1 trillion spending plan in final White House budget
Quote:
WASHINGTON, Feb 10 — US President Barack Obama proposed a US$4.1 trillion (RM5.84 million) spending plan for fiscal year 2017 yesterday in a final White House budget that met immediate Republican resistance for its cost and reliance on tax hikes to fund domestic priorities.
Obama, a Democrat who leaves office next January, sought to outline his fiscal and political vision for the country with proposed investments in infrastructure, cyber security, education, and job growth.
It also includes more than US$11 billion for the Departments of Defense and State to fight Islamic State militants and stabilise Syria — one measure that could draw bipartisan support.
But the plan is primarily a political document and is unlikely to be embraced by the Republican-controlled Congress.
Paul Ryan, the Republican speaker of the House of Representatives, called it a “manual for growing the federal government at the expense of hardworking Americans.”
The budget envisions a deficit of US$503 billion in fiscal 2017 after a US$616 billion budget gap in the current fiscal year ending on Sept. 30.
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- See more at: Obama proposes US$4.1 trillion spending plan in final White House budget (VIDEO) | World | Malay Mail Online
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