The Path to Prosperity by Republicans - Essay Example

Obama's budget does not include any reform programs for the government’s retirement and health-related programs. $1.5 trillion are imposed as taxes and the spending is not expected to go down below 23% of the nation’s economy.

The budget that is proposed by Republicans is called “The Path to Prosperity”. It is claimed that this budget will bring down the spending by $6.2 trillion. According to the study that is conducted by Heritage Center for Data Analysis, almost 1 million new jobs will be created if this budget is accepted. Important features of this budget are reduction in spending, welfare reforms, retirement and health security, tax reform, and budget enforcement. It proposes to bring down the spending on various government agencies. It includes important welfare programs that end up generating jobs. The reform programs will save Medicare. Most importantly it will protect retirement and health security.  Furthermore, this budget is likely to emphasize growth by bringing reforms in the country’s backdated tax code and by bringing down the tax rates. Lastly, this budget recognizes the importance and requirement of ‘change’ in the way of spending that is done by the government.