The Obama budget in a nutshell

This, from the Wall Street Journal:

High-wage earners, Wall Street hedge-fund managers, oil-and-gas investors, corporate executives, well-to-do seniors and Washington lobbyists all take hits in President Barack Obama’s budget plan.

The budget winners include middle-class families, low-wage workers, lower-income retirees, veterans, preschoolers, college students and the homeless.

Now I guess we all have to decide where on that we stand.

P.S. From a WSJ columnist, it’s worth remembering this:

This is the sort of thing that might set off a bit of class warfare — except that, in this case, the class being hit includes an awful lot of Obama supporters. In last November’s voting, exit polls showed, Mr. Obama actually won a majority of the votes from Americans in families making $200,000 or more annually. He got 52% of their votes, compared with 46% for Republican John McCain.

Interestingly, Mr. McCain won among Americans making $100,000 to $200,000. Mr. Obama’s support was a bit like a barbell — bulging among the poorest and wealthiest at either end of the income spectrum, and narrower in the middle.

2 thoughts on “The Obama budget in a nutshell

  1. I saw that article, too. I’m not 100% pleased with the Obama budget. I want the numbers to add up. But I am more than happy with the general trade-offs made in the budget.


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