President Barack Obama officially releases his budget proposal today, but some details have already been leaked.
"Obama is sending Congress a $3.77 trillion spending blueprint that seeks to achieve an elusive 'grand bargain' to tame runaway deficits by raising taxes further on the wealthy and trimming popular benefit programs such as Social Security," reports the Associated Press.
The plan is already taking hits from both Republicans and Democrats and that's a good thing, according to John Avlon in the Daily Beast:
"The first sign it's a good plan or at least a step in the right direction is that Obama is getting hell from both sides," says former Bush and McCain strategist Mark McKinnon, a fellow Daily Beast columnist and No Labels co-founder. "If they're not barking, then the proposal has no teeth and ain't biting."
Marc Goldwein, senior policy director at The Committee for a Responsible Federal Budget, joins The Daily Circuit to discuss the Obama budget proposal.