Obama’s Budget Blueprint Released Today

Wall Street Journal: “The White House will offer its annual blueprint for tax and spending policy on Tuesday, a plan that tries to put new force behind a number of proposals that have stalled in Congress.”

“President Obama’s budget, which is expected to call for about $4 trillion in spending for the year that begins Oct. 1, will propose larger tax credits for childless workers, a higher minimum wage, a redesigned military and the elimination of certain tax breaks for upper-income Americans, among other things.”

“Each of the initiatives has either been proposed before or telegraphed for weeks, and they lack legislative momentum. Rather, they represent the challenges that a president with weak poll numbers faces as he tries to refashion ideas at a time when coming fall elections frame almost every political decision.”