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Obama Budget Winners and Losers

Education, R&D are up, oil and gas companies down

By Emily Rauhala,  Newser User

Posted Feb 2, 2010 6:26 AM CST
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(Newser) – The 2011 fiscal budget says much about the state of the country—and the state of the president. "Like any politician, he’s focused on rewarding friends and not enemies," write Eamon Javers and James Hohmann for Politico. A look at this year's winners and losers:

Winners

  • Education: "Ramped-up" spending and major reforms should please Obama's supporters in the teachers' unions.

  • R&D: Non-defense science research gets a major boost. Clean energy, biomedical and cancer research clean up.
  • Small business: The budget eliminates capital gains taxes for investments in the smallest tier of business.
Losers
  • The moon: Obama cancels the Constellation program designed to return people to the moon.
  • Defense contractors: The Defense Department's budget is raised 3.4%, but other programs—including the production of Boeing C-17s—are chopped.
  • Oil and gas: The president slashes eight initiatives that keep gas prices artificially low and help energy companies.

President Barack Obama delivers a statement on his budget that he sent to Congress, Monday, Feb. 1, 2010.
President Barack Obama delivers a statement on his budget that he sent to Congress, Monday, Feb. 1, 2010.   (AP Photo/Pablo Martinez Monsivais)
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COMMENTS
Showing 3 of 3 comments
davjc09
Feb 2, 2010 6:29 AM CST
A Texan with deep ties to the energy industry no longer works in the Oval Office, and Obama’s budget makes that clear to anyone who might have forgotten. Obama terminates eight different arrangements — mainly tax benefits — that boost fossil fuel production and retard innovation by keeping gas prices artificially low. Removing subsidies for domestic oil and gas producers essentially amounts to a $36.5 billion cost increase on the companies over 10 years. ______________________________________ Shouldn't have gotten a handout in the first place. Now they're going to pass off this as a price increase.
kirby
Feb 2, 2010 4:21 AM CST
"slashes eight initiatives that keep gas prices artificially low'. Need there be more said...
Snowleopard
Feb 2, 2010 4:20 AM CST
well, i'm glad they're scrapping another trip to the moon. hopefully everyone can agree that's pretty wasteful right now.

 
education • Barack Obama • NASA • Democrats • alternative energy • Boeing • small business • research and development • 2011 budget

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