“That was uplifting.” That was what Barb said after I read this to her:
President Barack Obama has set his course for battle with America’s powerful interest groups over his ambitious, some say radical, spending blueprint that aims to remodel American society.
Even as he has rammed through emergency economic spending that easily could top $1 trillion, Obama has asked Congress to adopt a budget that is ripe with programs to improve the lot of lower- and middle-income Americans at the expense of the wealthy and the farming and industrial complexes under their control.
On the budget plan Obama presented on Thursday, the president said it would help millions of people but only if Congress overcomes stiff resistance from well-financed lobbies.
“I know these steps won’t sit well with the special interests and lobbyists who are invested in the old way of doing business, and I know they’re gearing up for a fight,” Obama said Saturday in his weekly radio and video address. “My message to them is this: So am I.”
Under the president’s proposal, America’s wealthiest 5 percent would pay a whopping $1 trillion in higher taxes over the next decade, while most others would get tax cuts. Industries would buy and trade permits to emit heat-trapping gases. Higher-income older people would pay more for government health insurance benefits. Drug companies would receive smaller profits from the government. Banks would play a much smaller role in student loans.
We are living in interesting times.
Sleep well and have a nice day.