Monday, February 2, 2015

President Obama Sets Out $4 trillion Budget

US President Barack Obama has been laying out his budget priorities, proposing to spend 4 trillion dollars in the 2016 budget year beginning  on 1st October. 

His programme includes boosting taxes on higher income Americans and corporations while giving tax relief to the middle class, as well as schemes to improve US infrastructure and provide two years of free community college.

He'll also close a tax loophole that currently allows US companies to avoid paying taxes on profits kept overseas. 

The President said he wants America to be a country that gives everyone a fair chance: 

IN: Will we accept...
OUT: ...that they are
DUR: 25 seconds


Mr. Obama said he has cut the deficit, and is now choosing to invest the money saved: 

IN: The public oftentimes...
OUT: ...afford not to
DUR: 22 seconds


President Obama said his proposals are practical, not partisan, and urged Republicans to work with him, or propose their own solutions:

IN: Now I know...
OUT: ...the stakes are
DUR: 24 seconds


Speaking to workers at the Department of Homeland Security, Mr. Obama said Republican efforts to stop funding for the organisation because of his actions on immigration reform are irresponsible:

IN: These Americans aren't... 
OUT: ...pure and simple
DUR: 27 seconds


The President said that his new budget will end the across the board budget cuts known as sequestration, which he's concerned could particularly jeopardise national security: 

IN: Just last week...
OUT: ...is fiscally responsible 
DUR: 24 seconds