Obama's Budget

The $4.6 trillion difference between the White House and House Republicans’ budget

"The House GOP budget sees tax revenues totaling 18.8 percent of GDP over the next decade, while Obama’s budget puts them at 19.1 percent. The difference over 10 years, using the GOP’s numbers? Three-tenths of a percentage point of GDP, or about $640 billion.

House Republicans see an average deficit of 0.6 percent over the next decade, while Obama’s looking at 2.5 percent. The difference there is 1.9 percent of GDP, or more than $4 trillion.

Put the two together and House Republicans are putting about $4.6 trillion more toward lower deficits or lower taxes than the White House. If you want to know why the House GOP’s budget looks so different from the White House, that $4.6 trillion is the answer. That $4.6 trillion is why House Republicans need to make such deep cuts to social programs. That $4.6 trillion is why the Obama administration can keep Obamacare as well as fund a new pre-kindergarten initiative."

Here are 12 things you may have missed in the budget.

Wonkblog also updated it's neat interactive budget analyzer to include Obama's budget, Interactive: How the Obama budget stacks up against Paul Ryan’s.