By GottaLaff
See if you can find a few things in the first two 'graphs that you've been waiting for:
President Obama is putting the finishing touches on an ambitious first budget that seeks to cut the federal deficit in half over the next four years, primarily by raising taxes on business and the wealthy and by slashing spending on the wars in Iraq and Afghanistan, administration officials said.
In addition to tackling a deficit swollen by the $787 billion stimulus package and other efforts to ease the nation's economic crisis, the budget blueprint will press aggressively for progress on the domestic agenda Obama outlined during the presidential campaign. This would include key changes to environmental policies and a major expansion of health coverage that Obama hopes to enact later this year.
See 'em? I knew that you would.
Reducing the deficit, he said, is critical to the nation's future: "We can't generate sustained growth without getting our deficits under control." [...]
His budget proposal takes aim at the short-term problem, administration officials said, but also would begin to address the nation's chronic budget imbalance by squeezing savings from the federal health programs for the elderly and the poor. [...]
His budget plan would keep the deficit hovering near $1 trillion in 2010 and 2011, but shows it dropping to $533 billion in 2013 -- still high in dollar terms, but a more manageable 3 percent of the overall economy.
To get there, Obama proposes to cut spending and raise taxes. The savings would come primarily from "winding down the war" in Iraq, a senior administration official said. The budget assumes that the nation will continue to spend money on "overseas military contingency operations" throughout Obama's presidency, the official said, but that number is significantly lower than the nearly $190 billion the nation budgeted for Iraq and Afghanistan last year.
Obama also seeks to increase tax collections, primarily by making good on his promise to eliminate the temporary tax cuts enacted in 2001 and 2003 for wealthy taxpayers, whom Obama defined during the campaign as those earning more than $250,000 a year. [...]
Obama also proposes to maintain the tax on estates worth more than $3.5 million, instead of letting it expire next year. And he proposes "a fairly aggressive effort on tax enforcement" that would target tax havens and corporate loopholes, among other provisions, the official said.
Hear ye, hear ye: The Obstructionists are coming!
Republicans, who are already painting Obama as a profligate spender, are laying plans to attack him on taxes as well. Even some non-partisan observers question the wisdom of announcing a plan to raise taxes in the midst of a recession. But senior White House adviser David Axelrod said in an interview that the tax proposals reflect the ideas that won the election last fall.
Note to Party of No: Keep it up. You are fast becoming the Party of Shovel Ready, meaning, immediate and sustained digging even more deeply into that hole of yours.
Administration officials and outside experts say the most likely path to revamping the health system is to begin with Medicare, the federal program for retirees and people with disabilities, and Medicaid, which serves the poor. [...] Making policy changes in those programs -- such as rewarding physicians who computerize their medical records or paying doctors for results rather than procedures--could improve care while generating long-term savings, expert say. It also could prod private insurers to follow suit. [...]
The biggest target is bonus payments to insurance companies that run managed-care programs under Medicare, known as Medicare Advantage. [...]
Administration officials also are debating whether to permit people as young as 55 to purchase coverage through Medicare. That age group is particularly vulnerable in today's weakened economy, as many have lost jobs or seen insurance premiums rise rapidly. The cost would depend on whether recipients were offered a discount or required to pay the full price of coverage.
There will be something for everyone to criticize, but overall, I'm proud to say I'm a member of the Party of Yes.