Obama Spends !

Obama Shifts Course with $3.5 Trillion Budget

President Obama's $3.5 trillion budget proposal, the largest in history, presents a dramatic break from policy and a shift in governmental priorities.

Much of the spending is being done with money the government does not have, creating a $1.75 trillion deficit next year alone.

"The president's beginning to make President Bush look like a piker when it comes to spending," House Minority Leader Rep. John Boehner of Ohio said.


Almost $1 trillion of the spending, $989 billion, comes from new taxes ... Obama will also push an additional $353 billion in new tax hikes on businesses.

"So, if you've got a restaurant or you have a small business and you're getting hit now with a tax rate that's going to jump from 35 percent up to 41 percent. Well, where do you, where do you pay for that? You lay people off," he said.