Obama Budget Makes Clean Break with Bush Trickle-Down Ideology

Interview with Robert Borosage, co-director of Campaign for America's Future, conducted by Scott Harris

In unveiling his first proposed budget for fiscal year 2010, President Barack Obama has staked out new priorities for the nation, making a clean break with his predecessor's trickle down, "government is the enemy" philosophy. In justifying its change in direction, the White House attached a narrative to the budget titled, "Growing Imbalance: Accumulating Wealth and Closing Doors to the Middle Class," which presented a set of statistics illustrating growing wealth inequality and making the case that a change in the tax code was necessary to redress the imbalance that for 8 years has harmed America's middle class.

The 3.6 trillion dollar budget proposes an increase in taxes on couples earning more than $250,000 a year, by raising the top two marginal income tax rates to 39.6 percent and 36 percent, limiting itemized tax deductions and increasing taxes on capital gains to 20 percent from the current 15 percent. Taxes on Wall Street Financiers would also be raised. On the spending side, Obama wants to make major investments in energy independence, the environment, education and health care reform.

The president's budget will undoubtedly be challenged by Republicans, many of whom have a fierce loyalty to policies favoring corporations and the wealthy, an ideology championed by Ronald Reagan. But, conservative Congressional Democrats maybe the most formidable obstacle in winning passage of Obama's key priorities. Between The Lines' Scott Harris spoke with Robert Borosage, co-director of Campaign for America's Future, who explains how Obama's budget moves the nation in a more progressive direction and the important political battles that lie ahead.

Contact Campaign for America's Future at (202) 955-5665 or visit the group's website at ourfuture.org

http://ourfuture.org/

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WTF is this author talking about?

Obama is giving the banking system over 9 Trillion to float their derivatives ponzi scheme and this same buget gives 50 billion to the social and infrastructure rebuild.

Wow. what a clean break.

Where did this individual come from?

Obama, I mean?

I never heard of him before the election circus and media production.

If any of you buy this transparent bull shit, pleeeeeaase help me out here.

We can discuss it.