Tags: Barack Obama | budget | deficit | tax | increases | transportation | job

Obama’s Budget Aims to Satisfy His Democratic Base

By Dan Weil   |   Tuesday, 14 Feb 2012 12:24 PM

President Barack Obama’s 2013 budget doesn’t offer a major agenda to attack the nation’s exploding debt problem. But knowing that his big ideas wouldn’t fly in a Republican-controlled House, Obama stuck to measures that will appeal to his Democratic base, hoping to improve his re-election chances, Politico reports.

Fewer young people are voting Democratic, so Obama requested a 2.5 percent increase in education spending, with the money devoted to community colleges, financial aid, and tax credits.

Obama’s tax increases on the wealthy are designed to appeal to the middle class.

It wouldn’t be a Democratic budget without something to help the unions. That comes in the form of Obama’s six-year, $476 billion transportation package, which represents almost a 50 percent increase from current spending levels.

Deficit reduction plays second fiddle in the budget to job creation, which will make liberals happy.

The budget includes massive tax assistance for manufacturing companies, many of which are located in crucial battleground states in the Midwest and mid-Atlantic region.

The budget takes a swipe at big business in another effort to appease liberals. For example, the president proposes a $61 billion tax on large banks, twice the amount from last year, to help fund his mortgage refinancing program.

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