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Official: the general government deficit of $ 1.75 billion

Barack Obama as President to the Congress a budget on Thursday that the government deficit this year is for $ 1.75 billion, the efforts for the country in a deep recession and a serious financial crisis.

A senior official told the Associated Press that Obama $ 3 billion plan also calls for more in Congress to raise taxes for the rich, in the year 2011 and the cost of health insurance providing health care for non-insured.

The first budget of the President also has the potential to spend $ 250 billion for the financial industry on the additional efforts to save 700 million U.S. dollars, the Congress already has approved such as civil servants who, under the condition of anonymity before the release of the resources.

The official said the administration believes it would be wise to require additional resources to combat the financial crisis of the country most affected by seven decades. He called the request a "space" before a decision by the U.S. Treasury, that additional resources are needed in reality.

The plan for expenditure for Obama is sending the Congress a draft 140 pages, with many details to come in the middle or end of April when the new government has the huge plunge in the books that the plan.

However, the presentation of the budget outline was naked on the amount describes fierce debate in Congress over the spending and tax priorities Obama. The document of the budget along with other applications for the current year, and Obama's budget proposals for 2010, starting with 1 October.

The President hopes that Congress an extension of the annual fee of $ 400 rebate due to show the employee checks in April, and extended the tax cuts in 2001 and 2003 for couples who earn less than $ 250,000 per year. Tax cuts, which expires at the end of 2010.

Figures for the middle class and tax breaks for health care, the budget of the Obama is the big cuts in the growth in other areas of health care and tries to come from a variety of other programs, government agencies, including grants to farmers with incomes of more than $ 500,000 per year.

The budget provides for savings in the procurement of weapons. To raise taxes on the wealth of hedge fund managers and companies, the abolition of tax breaks for U.S. companies now have a job to move abroad, that Obama mentioned several times in the presidential election year.

Even with all economies, the cost of 787 billion U.S. dollar trade triggers the bill in this year's deficit of $ 1.75 billion U.S. dollars, a level that - as a percentage of the economy - never since the Second World War. The deficit of about $ 1 trillion over the next two years before the crisis to $ 533 million in 2013, according to the budget estimates.

Obama's plan to $ 634 billion U.S. dollars savings in expenditure on health care and the diversion of funds, the extension of the coverage for uninsured Americans. The $ 634 million a little more than half of the money is used for the expansion of health insurance to all 48 million Americans without health insurance now.

The Americans spend a total of 2.4 billion U.S. dollars per year for health care.

Obama also asked for a further period of $ 75 billion to the cost of the wars in Iraq and Afghanistan through September, the end of the current financial year. That would be more than $ 40 million U.S. dollars already approved the Congress, the official.

The administration also asked the $ 130 billion for Iraq and Afghanistan in 2010 and the budget, the cost of operations in Iraq and Afghanistan 50 billion U.S. dollars per year in the coming years.

Obama's preliminary draft budget effectively to increase the taxes on the income and the reduction of tax relief for couples of more than $ 250,000 per year from 2011. Not to extend the ex-president George W. Bush 's tax cuts for the richest archives, Obama would be the marginal cost on the income of households over 250,000 $ for 35 percent to 39.6 percent.

The plan also contains a proposal, the objections of hundreds of billions of dollars for the auction of licenses caps on carbon emissions, Obama, who wants the use of fossil fuels for global warming.

Some of the revenue from the pollution can be used to "make work pay" tax credit of $ 400 for individuals and 800 $ for couples by 2010 as planned in the project recently the law to promote economically.

About half of what the officials than $ 634 billion U.S. dollars "pay" for health insurance for all Americans to come from cuts in Medicare. It is certain that an incentive for fighting with the doctors, hospitals, health insurance and drug companies.

Some of the savings from the reduction in payments from Medicare in the systems of private in the service of people, many of whom analysts believe is inflated. Other proposals include the expense of higher income beneficiaries higher premiums for Medicare prescription drugs.

, To the other half, Obama wants to reduce the affluent, the reduction of taxes through the deduction of mortgage interest, donations to charity, local taxes and other costs at 28 cents instead of 35 cents Who can today. Even more money is high when a high back to 39.6 percent, as Obama wants.

Senator Max Baucus, D-Mont., Chairman of the Finance Committee of the Senate, Obama has proposed taxing the rich to the reform of the health care system a starting point. But he also wants a debate on the taxation of certain services of the employer health insurance - an idea rejected Obama in the presidential campaign last year.

The budget documents contain the Associated Press that Obama may not be a detailed plan for the health sector in general, but a number of fundamental principles for policy and concrete ideas about how much money raised.

Obama promises to the direct payments to farms with incomes over $ 500,000 per year, is certainly cause for concern among Democrats in rural areas.

Even after all the difficult decisions to cut around 2 billion U.S. dollars in the budget of more than 10 years, Obama, the budget deficit is still huge.

The $ 1.75 billion deficit this year, 12.3 percent of gross domestic product, that is twice the highest ever, after the war from 6 percent in 1983, when Ronald Reagan was president and the highest level since The deficit amounted to 21, 5 percent of GDP in 1945, at the end of the Second World War.

A $ 533 billion, the deficit in 2013 is around 3 percent the size of the economy, the officials of the government, it is said to manage.


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