Entitlement Cuts Missing from Obama's 2015 Budget
President Barack Obama's 2015 budget is coming under fire from Republicans.
The new budget ignores an earlier offer to cut back on government spending, a central component that received Republican support but was opposed by many Democrats.
Obama's proposal eliminates trims to cost-of-living increases in Social Security and other benefit programs, and includes about $56 billion in new or expanded programs, stepping back from aggressive efforts to tackle long-term government deficits and debt.
That additional spending would be split evenly between military and domestic programs. Those programs would include the following:
- A proposal Obama offered last year to help achieve universal pre-school education, funded through a tobacco tax
- New proposals to expand job training programs
- A "Race to the Top" initiative to help states cut energy costs
The budget also proposes an expansion of the Earned Income Tax Credit, a tax benefit for lower-income workers. The proposal aims to benefit workers without children.