Friday, May 29th22.2°C
26379
25546

Obama unveiling campaign-year budget focused on economy as deficit-reduction pressure fades

WASHINGTON - President Barack Obama is unwrapping a nearly $4 trillion budget that gives Democrats an election-year playbook for fortifying the economy and bolstering peoples' incomes. It also underscores how pressure has faded to launch bold, new attacks on federal deficits.

Obama is sending his 2015 fiscal blueprint to Congress Tuesday. It is expected to include proposals to upgrade roads, finance pre-kindergarten programs and enhance job training.

The White House said it would enlarge the earned income tax credit to cover 13.5 million low-earning workers without children and provide other tax breaks.

Aides say Obama's budget will obey overall spending limits Congress enacted in December, following a bipartisan compromise. But he will also propose an additional $56 billion in defence and domestic spending — paid for with spending cuts and revenue increases.

The Canadian Press


Read more Business News

26181


Recent Trending




Today's Market
S&P TSX15026.90-80.08
S&P CDNX691.35-0.81
DJIA18036.07-90.05
Nasdaq5078.67-19.31
S&P 5002110.24-10.55
CDN Dollar0.8040-0.0006
Gold1187.40-16.90
Oil60.99+2.62
Lumber273.70+1.20
Natural Gas2.81-0.01

 
Okanagan Companies
Pacific Safety0.14+0.01
Knighthawk0.010.00
QHR Technologies Inc1.48+0.00
Cantex0.03+0.00
Anavex Life Sciences0.385-0.015
Metalex Ventures0.07-0.01
Russel Metals25.09-0.11
Copper Mountain Mining1.27-0.03
Colorado Resources0.10+0.00
ReliaBrand Inc0.0224+0.0095
Sunrise Resources Ltd0.04+0.01
Mission Ready Services0.15-0.00
Decisive Dividend Corporation2.10+0.16

 



25608

FEATURED Property
22671083691 Hart Road
8 bedrooms 5 baths
$5,500,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Yard sale pricing

Photo: Thinkstock.comI have deliberately abridged this household tips article to illustrate pricing strategies. "Tips For Pricing Yard Sale Items” was written by Lynnette Walczak, and publi...


What's a robo-advisor?

Photo: ContributedIt can only be attributable to human error. -Hal, 2001: A Space Odyssey For most of us who are within thinking distance of retirement, the term “robo” conjures up image...


Cash stressed seniors

Photo: Thinkstock.comFor many Canadian homeowners, their house represents the biggest portion of their net worth. Now, increasing numbers of seniors are starting to recognize the hidden value of their...

_



25991




Member of BC Press Council


25895