Obama budget a mix of spending, saving

WASHINGTON – President Barack Obama called for higher taxes on the wealthiest Americans in his proposed new federal budget released Wednesday, but he also offered for the first time changes aimed at stemming the burgeoning costs of Medicare and Social Security.

His budget would increase spending by $93 billion in the fiscal year starting Oct. 1, reaching a total of $3.78 trillion, while the deficit would drop from this year’s $973 billion to $744 billion

.Long term, he proposed twin moves to start grappling with the nation’s sky-high deficits. He urged new tax increases. And he proposed slowing the growth of Social Security benefits. His plan would cut projected deficits over the coming decade. Yet it would continue to borrow and would add another $8.1 trillion to the debt, a 47 percent increase. Full story.

As was amply discussed yesterday, I’m no math whiz, but adding another $8.1 trillion to the debt is good how?