According to Fox 28, President Barack Obama is challenging Republican budget priorities, saying they are based on economic theories that do not work. He cites the current economic recovery as evidence that his own economic policies have succeeded.
He says: “I’m going to take a little credit” for lower unemployment rates, stronger corporate balance sheets and a booming stock market.
Obama was speaking at the City Club of Cleveland. Obama says the reality of the current economy shows that Republican “trickle-down economics” don’t work.
The House Republicans released a $3.8 trillion budget Tuesday that spends on defense, partially privatizes Medicare and eliminates deficits in 10 years.
Obama’s budget proposal would target corporate profits overseas, raise taxes on the rich, spend billion on roads and bridges and reverse automatic budget on defense and domestic spending.
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