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Obama Looks to Reduce Deficit with Massive Tax Increases

Created on March 4, 2014

Obama Looks to Reduce Deficit with Massive Tax Increases

Article ID: obama-budget-deficits

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Read the original report, "Live Blog: Heritage Experts Weigh In On Obama's 2015 Budget."

In his FY 2015 budget, President Obama would increase spending and taxes. Despite $1.2 trillion in tax increases, the President’s budget never balances.

Source: Office of Management and Budget, Summary Tables: Budget of the U.S. Government, FY 2015, Table S–1, March 2014, http://www.whitehouse.gov/sites/default/files/omb/budget/fy2015/assets/budget.pdf (accessed March 4, 2014).

Tags: spending, revenue, taxes, tax-increases