President Obama is to announce his budget for the Fiscal Year 2013 on Monday, in his new budget for the New Year starting in October; President Obama announced will announce his plans. He will plan to make a new standard tax rate for all Americans in America, which will raise taxes across the board for all americans. However, the new increases in taxes he will also add in new projects for this next fiscal year, which are:

$2.2 billion for advanced manufacturing research and development
$350 billion in short-term job spending,
$476 billion for six-year transportation and infrastructure program
$60 billion to refurbish schools and secure jobs for teachers, firefighters and police officers

However as Andrew Taylor from the Associate Press says:

Obama's 2013 budget, set for release Monday, is the official start to an election-year budget battle with Republicans. It's unlikely to result in a genuine effort to address the $15 trillion national debt or the entrenched deficits that keep piling on to it. But it will serve as the Democrats' party-defining template on this year's election stakes.

The president's plan is laden with stimulus-style initiatives: sharp increases for highway construction and school modernization, and a new tax credit for businesses that add jobs. But it avoids sacrifice with only minimal curbs on the unsustainable growth of Medicare even as it proposes a 10-year, $61 billion "financial crisis responsibility fee" on big banks to recoup the 2008 Wall Street bailout.

This budget plan, administration officials say, borrows heavily from Obama's recommendations in September to a congressional deficit "supercommittee" that was assigned to come up with at least $1.2 trillion in deficit savings as part of last summer's default-avoiding budget and debt pact. The panel deadlocked and left Washington to struggle with bruising across-the-board spending cuts that kick in next January.

In his new plan President Obama will increase not only are taxes but will increase our national debt to fund his new plans. As I said in my previous blog post The ‘Buffett Bill’ a Bad Idea for America, I do not believe that we should be giving more money to the federal government if they are continually raising the debt ceiling to fund projects that are supposed to create “STIMULUS” but in my opinion have not really done much but raise our debt and put our country more into an economic hole that we cannot crawl out of.

As Virginia Governor Bob Mcdonnel said in the Assoicated Press that,

"The Obama approach is simply more debt, more taxes, and more blaming others, this will not be a proactive budget built to promote fiscal responsibility and future prosperity. Rather, it appears we'll see a bloated budget that doubles down on the failed policies of the past.

I would agree, for our current situation, for an approach that would raise taxes, but at the same time scale back on in our spending. We are spending more than we can have thus creating more debt for our country, and making normal average Americans feel like this country will be unable to have the feeling of security and pride for our nation’s once great strength in our economy and our government. When the “Willy-Nilly” spend our money away on projects that create more debt.

Again, I believe that in our current times we need to pay more taxes, but the government in return should stop spending the money we give them in taxes; and start saving for our future so that we as normal Americans may have a hope of a future where this country is out of the debt of other countries.

Obama budget: New spending with recycled tax ideas