President and Founder of the Progressive Policy Institute, Will Marshall, pens his analysis on the federal budget recently proposed by President Barack Obama, here for CNN, published on February 3, 2015.
(CNN)The $4 trillion budget President Barack Obama sent Congress on Monday is his blueprint for reviving "middle class opportunity." Liberals are thrilled by the redistributive thrust of the president's budget -- it would hit affluent Americans with a battery of new tax hikes, totaling $2 trillion over the next decade, and use the proceeds to finance substantial tax cuts for low and middle income families.
However, this has, of course, scandalized tax-averse congressional Republicans, who echo House Ways and Means Chairman Paul Ryan in denouncing the Obama budget as an exercise in "envy economics."
Read the full story here: http://www.cnn.com/2015/02/03/opinion/marshall-obama-budget-failure/