Key Elements of the President’s Budget
Balances only “on paper” in 2012; makes long-term
deficits worse
Makes the very expensive 2001 and 2003 tax cuts
permanent, while ignoring costs of Alternative
Minimum Tax relief (together they would cost $3.5
trillion over the next 10 years)
Cuts in domestic discretionary programs that grow
deeper over time
Cuts in health care – including Medicaid cuts that shift
significant costs to states and insufficient funding to
continue coverage in the State Children’s Health
Insurance Program (SCHIP)