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Coats Calls Obama FY 15 Budget a Missed Opportunity

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4-trillion-dollars in spending ... and just 3-point-3 trillion dollars in revenues: That's the bottom line on the 2015 budget President Obama sent to Congress today. ABC News reports the President says it reflects our "values" ... with more money for education, jobs training and public works.  President Obama says this budget adheres to the spending levels that both parties in both houses of Congress already agreed to. But it also builds on that progress with what he calls an "opportunity, growth and security" initiative. It invests in our economic priorities in a smart way that is fully paid for by making smart spending cuts and closing tax loopholes that right now only benefit the well off and the well connected.
The President says right now our tax system provides benefits to wealthy individuals who save, even after they've amassed multi-million dollar retirement accounts. By closing that loophole, we can help create jobs and grow the economy and expand opportunity without adding a dime to the deficit.
Indiana US Senator Dan Coats called the proposed budget a missed opportunity that fails to stabilize our long-term fiscal future.  Coats says the proposed budget does nothing to keep medicare and Social Security solvent, adds close to a trillion dollars in new spending and calls for trillions in tax increases.


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