Bite-size budget news

5 Mar

Since I’m guessing most of you skipped over the Obama budget link below — politics, boo! finances, blah! reading, blech! — I’ve decided to recap the document in a digestible format for all y’all getting your news on the go. Skim the info below if you’re looking to have your news delivered to you nugget-style.

Summary: A rundown of Obama’s proposed 2010 budget.

More money going to:

— 4% increase in: Unemployment benefits, retirement security and stimulus tax breaks for the poor (most notably helping them pay energy bills when the costs skyrocket). Start your bitching, angry Republicans!

— Increased pay for top-performing teachers. While this is a great idea in theory, anyone who read Freakonomics will tell you this will just result in more fraudulent, cheating teachers. So…yay?

— The EPA, which will receive a whopping 34% increase in their funding to tackle the clean energy issue.

— AIDS and Global Health research will get a few billion more dollars.

— The Department of Homeland Security, set to see $3 billion more in funding.

— Spending for law enforcement; Obama is seeking to put approximately 50,000 extra cops on the streets.

Less money going to:

— Wars. $10 billion less going to the wars (negligible), which is said to have come from changes in operations. Which I suppose means the gold-plated M-16 is a thing of the past. Sad.

— Private lenders for student loans. Obama is proposing all loans be funded by the Education Department, which should account for $25 billion in savings over five years.

— Payments given to “health care providers who serve Medicare and Medicaid,” and “limiting the value of itemized deductions for wealthier families.” I don’t know what that means, exactly, but the good news is my guess is you don’t care either.

— The wealthy ($250k or more), who will see a rise in their tax cuts. Sorry about that.

***

Bonus reading: a check-in on Politifact’s “Obameter” reveals 16 promises kept, 7 compromised, 2 broken and 447 to go. Nice work thus far, Prez.

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