Scottie Hughes - Overturning Obama's Budget

Obama's budget, two months overdue, mixes almost $600 billion in new taxes over the coming decade with modest curbs on spending, including lower-than-scheduled benefit increases for people receiving Social Security. The wealthy would lose the full benefit of some tax breaks while the poor and middle class would gradually slip into higher tax brackets.

Presidential budgets are often declared "dead on arrival" and this one may be just the latest to get that label. But it differs from last February's campaign-year missive by proposing a new, government-wide inflation adjustment - affecting Social Security, veterans' pensions and the indexing of tax brackets - that has long been offered to Republicans in hopes of winning concessions on new tax revenues.

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