Economy USA

Barack Obama unveils his budget proposal for 2013

WASHINGTON (Reuters) – Barack Obama plans to spend over 800 billion dollars in jobs and infrastructure work, according to the draft 2013 budget to be submitted to Congress on Monday.

President of the United States plans to allocate and $ 350 billion in programs of job creation and 476 billion in major projects, including roads.

The draft budget forecasts a deficit of 901 billion dollars against 1,330 billion this year. This sum, higher than the estimates made ​​in September by the White House, represents 5.5% of gross domestic product (GDP) in 2013, against 8.5% in 2012.

“The objectives of the budget release of federal resources to the areas essential to economic growth and to restore the security of the middle class,” reported the White House.

The proposed budget provides the outgoing president an opportunity to present his program and to present his Republican opponents as candidates of the rich. The conservative movement denounced for his reckless spending and accuses him of wanting to increase taxation.

On revenue, Obama proposes to tax the income of millionaires at 30%, main idea of his speech on the state of the union, and expects 4,000 billion in savings over ten years, according to the plan unveiled in September.



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