President Barack Obama has proposed cutting funding to or completely eliminating 121 federal programs in order to rein in spending by the federal government. Obama compared the cutting of programs to the belt tightening most Americans are doing. President Obama has claimed that his proposed cuts will save approximately 17 Billion dollars.
Republicans have pounced on these proposed cuts by saying they are not nearly enough. A few of the proposed cuts include: tax breaks for oil and gas companies, cutting more then half the benefits for family members of slain police officers. Another proposal is to increase the air fare taxes starting in 2012.
It still remains to be seen how much of an impact these cuts will have on reducing the federal budget. I agree with his decision to start removing tax breaks from larger oil and gas industries; however, I don’t feel raising taxes on airlines or any form of transportation is the best way to raise capital when Americans are already unwilling to travel due to economic constraints.
http://news.yahoo.com/s/ap/20090507/ap_on_go_pr_wh/us_obama_budget
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