3.55 trillion dollars. I would tell you how many zeros that is, but my calculator won’t display that many.
With the introduction of this budget, Obama proves that he is willing to take risks and put himself at the forefront of the biggest government expansion in four decades. Here are some highlights (source: CNN):
Agriculture
• Agriculture Department funding would increase by $1.4 billion under Obama’s proposed FY 2010 budget, from $24.6 billion to $26 billion.
• Obama’s proposed 2010 budget “phases out direct payments over three years to farmers with sales revenue of more than $500,000 annually.”
• The budget provides $1.3 billion in loans and grants to increase rural broadband capacity and improve rural telecommunication service.
Defense
• $533.7 billion for the Department of Defense in 2010, an increase of $20.4 billion, or 4 percent, over 2009
• $75.5 billion in spending on Iraq and Afghanistan for the remainder of 2009
Education
• $46.7 billion in fiscal year 2010 spending
• $500 million spending increase from 2009
• The budget establishes a new five-year, $2.5 billion program starting in 2010 to help low-income students attend college.
Energy
• The 2010 budget includes $26.3 billion in projected spending for the Energy Department.
• The 2010 budget “builds on the $11 billion provided in the [stimulus package] for smart grid technologies, transmission system expansion and upgrades, and other investments to modernize and enhance the electric transmission infrastructure.”
Health Care
• A $634 billion health care reserve fund designed to help cover the costs of overhauling the health care system.
• $6 billion for cancer research by the National Institutes of Health.
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