Will Obama's Budget Raise Your Taxes?
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With new faces in Congress, President Obama knows his $3.73 trillion budget will be a hard sell. That's why he took his message to the airwaves this week, making TV appearances and issuing statements calling for "tough choices and sacrifices." A top priority of Obama's budget plan is to hack away at the deficit, cutting it by $1.1 trillion over the next decade.
Americans are concerned about the deficit -- since 2002, we've managed to dig a hole worth $1.65 trillion, an all-time record. That figure is so huge, it represents more in deficit spending than we currently have dollars circulating
. But Americans are also concerned about how they might be paying down the deficit via their taxes.