Republican Rep. Tom Price, House Budget Committee chairman, said Tuesday that his budget "saves $5.5 trillion, gets to balance within 10 years, without raising taxes." Cliff Owen/AP hide caption

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It's All Politics

House GOP Budget Sets Stage For Showdown With The President

House Republicans unveiled a draft budget Tuesday, aimed at balancing spending with revenues over the next decade without raising taxes.

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President Obama, shown speaking at the University Of Kansas on Jan. 22, defends his budget as an exercise in "middle-class economics." But forecasters at the nonpartisan Tax Policy Center say the 60 percent of Americans at the middle of the income ladder will more or less break even, while most benefits will go to low-income families. Jamie Squire/Getty Images hide caption

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