Obama Administration Budget Essay Example | Topics and Well Written Essays - 1500 words

Obama Administration Budget - Essay Example that America has witnessed over the last several years." President Obama also reiterated his pledge to cut the deficit in half over the next five years. (Keck, et. al., 2009). The economic recession that America is presently experiencing is being suffered from coast to coast.   Families, small businesses, and family farmers are struggling to make ends meet.   People are tightening their belts and making difficult budget decisions In order to survive,.  Likewise, Americans expect their government to do the same.   Sadly, the recent budget plan released by the Obama administration failed to meet the citizens’ expectations.   In this time of widespread unemployment and the budgets of families and small businesses are tight, Obama’s outrageous budget outlines a $1.4 trillion tax raise in order to pay for enormous new government spending.   Some Americans believe that this budget is not the answer.   The tax increases it calls for would hurt small businesses, kill jobs, and further prolong our economic downturn (Wicker, 2009). Universal Tax Hike: Obama’s budget plan aims to expand the size and scope of the federal government in every phase of our economy.   Under this plan, spending would be maximized.   Before the country entered this recession, our national debt was about 40 percent of our gross domestic product (GDP).   Drastic increase in government spending and nationalizing things like healthcare and student loans, this budget blueprint would deliver the biggest European-style Socialism that we have ever seen in the country. Instead of guiding our country out of this recession by outlining a plan that would put more money into the hands of taxpayers and job creators, Obama’s budget would increase taxes on every American, stifling investment and job creation at a time when our country greatly needs both.  The budget asserts to increase taxes only on â€Å"the rich,† but in reality the burden would fall on the small businesses that create 70 percent of