Obama's Budget Speech

Vice President Joseph Biden falls asleep during Obama's budget speech! The man in charge of the country if something were to happen to Obama fell asleep.

One of Obama's worst speeches ever, here is his plan below.

In a nutshell, increase taxes, expand entitlements and drive this country off a cliff.

Obama's four-part plan for deficit reduction:

Cuts in nonsecurity discretionary spending, while still investing in energy innovation, education, and infrastructure. The level of his cuts would be consistent with the recommendations of his bipartisan fiscal commission, saving $770 billion from 2012 to 2023.

Cuts in security spending deeper than those in his 2012 budget. Projected savings by 2023 are $400 billion.

Cuts in spending on Medicare and Medicaid by making delivery of health services more efficient and cost-effective. Obama says he would slow the growth of Medicare by strengthening an independent commission of doctors, nurses, medical experts, and consumers, which recommends ways of reducing unnecessary spending. He also proposes to make Medicaid more “more flexible, efficient, and accountable.” Savings from both programs would add up to $500 billion by 2023, he says.

Reforming the tax code in a way that closes loopholes, limits deductions, and allows tax rates to go down. Limiting itemized deductions for the wealthiest 2 percent of Americans would reduce the deficit by $320 billion over 10 years, Obama says. All told, his plan projects revenue from changes to the tax code at $1 trillion.

Click here for an article for more on his speech.