Obama budget sets up election-year tax fight


Ana Marie Cox: Like the GOP's Ryan plan, Obama's budget is about electoral positioning not real economic policy, but he looks better-placed.

By Alister Bull and Laura MacInnis | WASHINGTON (Reuters) – President Barack Obama called on Monday for new spending to boost growth and higher taxes on the rich, laying out an election-year vision for America in a budget that drew heavy fire from

Play Video Play Video Enlarge image BUDGET OBAMA BUDGET OBAMA Andrew Harrer/Bloomberg President Barack Obama at Northern Virginia Community College in Annandale on Feb. 13, 2012. President Barack Obama's budget plan calls for taxing dividends received

Play Video Play Video Enlarge image BUDGET OBAMA BUDGET OBAMA Andrew Harrer/Bloomberg President Barack Obama at Northern Virginia Community College in Annandale on Feb. 13, 2012. President Barack Obama's budget plan calls for taxing dividends received

For further information on the budget, see BUDG ) Feb. 13 (Bloomberg) — President Barack Obama, who pledged an “all of the above” energy strategy that included fossil fuels, renewed his proposal to cut more than $40 billion in tax breaks for oil,