Obama Proposes $3.73 Trillion Budget and $1.1 Trillion Deficit for 2012
Submitted by Kevin Derby on February 14, 2011 - 11:00am
President Barack Obama unveiled his 2012 budget proposal on Monday -- $3.73 trillion in spending for FY 2012, a reduction of just under 2.5 percent of spending in 2011. The budget also continued running up the national debt. The 2011 deficit now stands at an estimated $1.65 trillion, while the 2012 deficit appears to be shaping up around $1.1 trillion. This will mean for four years in a row the federal government will run up deficits of greater than $1 trillion.
Republicans in Florida are already taking aim at the presidents proposed budget.
President Obamas budget is not serious about reducing deficit, noted former House Majority Leader Adam Hasner on Monday. Hasner, who is contemplating taking on Democratic U.S. Sen. Bill Nelson in 2012, added the nation needed leaders wholl confront entitlement reform.
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