Swiming in the Red: House Passes 3.5 Trillion Dollar Budget

What is there to say, Obama and the Dems are going to pass a budget that fundamentally damages the long term health of the Nation. Opportunity and prosperity will be replaced with enforced inequality and influence peddling as the primary way to become wealthy. As for the budget, it has been ripped apart as delusional, bleak as could be, and in denial of reality.Update: Associated Press Calls Obama out.

Total Deficit or Surplus (Percentage of GDP)

The Full CBO Breakdown.

The House today passed a $3.5 trillion budget outline that lays the groundwork for President Obama's ambitious initiatives on health care and education.

The 233-193 vote was largely along party lines. The Senate is expected to pass the budget later today, allowing Obama to commemorate his 100th day as president with a major legislative victory.

"It is a very happy day for our country," said House Speaker Nancy Pelosi (D-Calif.)

The budget resolution extends tax cuts for families who make less than $250,000 each year, increases the size of Pell Grants and provides money for "clean energy" initiatives that Obama has proposed.

Republicans today continued to attack the budget, saying that such high spending levels will drive the federal deficit dangerously high. The deficit would hit $1.2 trillion in the fiscal year that begins in October and remain elevated through 2014, when it is projected to hit $523 billion.

"It puts all of this debt on the backs of our children and grandchildren," said House Minority Leader John Boehner (R-Ohio.). "This is not the American way."

But have no fear, Obama has called for a 100 hundred million dollars in cuts:

Via RightKlik:

Oh and the Bush tax cuts for the "wealthy" 250,000 expire in 2010 as well as Obama's 400 dollar and 800 dollar tax cut that he and the media are always crowing about will also expire.