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Obama's budget could be a missed opportunity

Some of Mr Obama's proposals are pure politics, with the 2016 presidential election now in the field of view for candidates and pundits alike.


BARACK Obama is making deficit control harder than necessary. The US president's new federal budget increases outlays by 6.4 per cent a year on average over a decade. So to rein in borrowing, tax revenue has to grow at 7.2 per cent annually. A solid US economy could handle less