May 24, 2012
President Barack Obama is sending Congress a new budget that seeks to achieve $4 trillion in deficit reduction over the next decade through cuts in government spending and higher taxes on the wealthy. At the same time, he wants to boost spending in key areas such as transportation and education.
The spending blueprint is certain to spark an election-year battle with Republicans, who are vowing to oppose Obama's tax hikes. They contend the president is not doing enough to attack a dangerous deficit problem.
The administration is seeking to cast the debate as a battle to protect the middle class following decades of eroding security and a deep recession.
Obama is scheduled to speak this morning to students at Northern Virginia Community College to highlight the budget's education initiatives.
Copyright 2012 by The Associated Press. All Rights Reserved.
