Obama's $3.7 Trillion Budget Management And New Jobs

Leominster and Fitchburg MA News. - Have you read or watch the news about President Obama's new 2012 $3.7 trillion budget that might create new jobs for U.S. residents. Well, here is an overview on how that budget will be manage.

Where the money comes from:

$3.7 trillion.

• Individual income taxes $1.1 trillion.
• Corporate income taxes $327 billion.
• Social Security payroll taxes $660 billion.
• Medicare payroll taxes $202 billion.
• Excise taxes $80 billion.
• Other $195 billion.
• Borrowed money (deficit) $1.1 trillion.

Where it goes:

$3.7 trillion.

• Security spending $881 billion.
• Domestic spending $468 billion.
• Social Security $761 billion.
• Medicare and Medicaid $737 billion.
• Other benefit programs $611 billion.
• Interest payments $240 billion.

Do you think Barack Obama is doing the right thing with the budget or he needs to do some changes to his financial strategy?

Also read Winter Vacation Fun Places In Massachusetts.

Mark D.
Editor.

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