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After libyan leader yesterday urged palestinians to resolt against israel. well, president obama sends his 2012 budget to congress today, one the administration says will save more than $1.1 trillion over the next decade and will be officially released about five hours from now and two thirds of the savings expected to come from a five-year spending freeze. other proposed cuts include defense spending, energy assistance for the poor and airport grants. sam time, the president expected call for significant new spending on education and inf infrastructure. white house budget director says the ...

Modest cuts to pell grants or head start, other key programs our program would be included but we weren't expecting a 50% cut. we're all really shocked by that. 50% is very significant. and the thing is, if you're in maine the cost of home heating is $2,000. i think that the administration at one level, yes, right, you have to cut the budget. >> yes. >> when you think about it, these are the poorest families in the united states. they don't have much flexibility, and i think that's our concern. the other thing is liheap is not an entitlement. money runs out, the program's over. we're reaching ...

Subsidizing? sorry. >> they get a tax break. put it up with fannie and freddie and the community reinvestment act and all of those examples of how the mortgage market and the real estate market is not a free market. it's a distorted market. the government should get out and not favor one asset class over another. stocks, gold, bonds or real estate. >> cheryl: okay, okay. how is it different from the first-time home buyer tax credit? which is a lot of folks say kept us from going in a double-dip recession in housing. dan? >> sorry. >> cheryl: it's okay. >> i thought you were following up. i tak...