President Obama has unveiled his new budget proposal — all $3.99 trillion of it. According to the President, the goal of the new budget is to be “practical, not partisan” in order to provide a boost to middle class families and to improve the nation’s infrastructure. Under the President’s new proposal existing spending caps would be ended and businesses and wealthy would receive tax increases.
The bill will also call for an end to automatic, across-the-board spending cuts that were agreed upon four years. The time for “mindless austerity” is over, according to President Obama, and he is ready to work with Congress to replace it.