Obama’s $3 trillion deficit plan is half tax hikes

posted by
September 18, 2011
CBS News    
Posted in News

"Drawing a bright line with congressional Republicans, President Barack Obama is proposing $1.5 trillion in new tax revenue as part of his long-term deficit reduction plan, according to senior administration officials. The president on Monday will announce a proposal that includes the new taxes, nearly $250 billion in reductions in Medicare spending, $330 billion in cuts in other mandatory benefit programs, and savings of $1 trillion from the withdrawal of troops from Iraq and Afghanistan." (09/18/11)


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