budget in morning and sent it to congress. here s what he told reporters. we cannot continue to spend as if deficits don t have consequences. as if waste doesn t matter. as if the hard earned tack dollars of the american people can be treated like monopoly money. as if we can ignore this challenge for another generation, we can t. sean: given what is contained in the budget i m not sure how sincere the president is. it increases the deficit by 1.56 trillion per year and increase the national debt 8.5 trillion. nonetheless, the president is patting himself on the back for being fiscally responsible. citing a one trillion dollar tax increase on the so-called rich. this in effect puts an end to the bush tax cuts. the budget also freezes domestic spending on some programs which make up 13% of the federal budget. it will cut or eliminate approximately 120 mine nor
about, having happened last thursday, when every last republican in the senate, all 40 of them, having voted against a pay-as- pay-as-you-go fiscal responsibility bill, simply because the president has endorsed it. the president today unveiling his $3.8 trillion budget deficit for 2011, offering $30 billion in tax cuts for small businesses, $120 billion for job creating measures. the deficit for the budget year projected to reach a record $1.56 trillion. the president, who inherited $1.2 trillion of that from his predecessor, saying his priority, getting and keeping the economy on track. if we had taken office during ordinary times, we would have started bringing down these deficits immediate. but one year ago, our country was in crisis. we were losing nearly 700,000 jobs each month. the economy was in a free fall and the financial system was near collapse. many feared another great depression. so we initiated a rescue.
military. and it allows the bush tax cuts of 2001 and 2003 to expire at the end of this year, effectively raising taxes on the wealthy. orszag says the president is faced with a delicate balancing act. we re in the midst of a severe economic down turn. we re starting to turn the ship on that. the deficit the budget does two things. it brings the deficit down over time more than a trillion dollars in deficit reduction contained in this budget, while investing in job creation. he says the budget deficit goes down over time, it is at a record level for this year at $1.56 trillion and remains above a trillion dollars in 2011. back to you guys. thank you. so steve just talked about how in this budget, it proposes $100 billion immediately for jobs bill. let s talk about jobs because interestingly, this weekend the white house put out some numbers
scientists are looking at an additive that boosts the strength of flu vaccines and appears to help protect against several types of the flu. so-called adjuvants are not used in our vaccines but are in european versions. mixing the additive and vaccine greatly increased the immune responses to a wide variety of flu types, officials say. president obama unveils his budget for next year, a whopping $3.83 trillion with a record-breaking deficit of up to $1.56 trillion. the president does have a plan to fix it by increasing taxes on families who earn more than $250,000 a year. coming up on andrea mitchell reports, the brookings
not buy parts of it, even some democrats may not. but in any case, they now have it. they can take a look at all the details. the president s 2011 budget, $3.83 trillion has arrived on capitol hill. it contains a record level of deficit level of $1.56 trillion. now, the box is full of these bulky documents were wheeled into the house senate, the budget committee hearing room today, marking the start of a long congressional approval process that s bound to see its share of controversy. republicans and even some democrats as i mentioned, not too happy about some of the proposals in the president s budget. here are just a few of the more controversial highlights of the president s proposing a $100 billion jobs program. not as high as the figure contained in a house bill that s already passed, but lower than the measure the senate could consider as early as this week. the budget also contain ago spending freeze on certain programs, but not including social security, medicare or the