Obama Sends $3.8 Trillion Election-Year Budget to Congress
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President Barack Obama sent Congress a $3.8 trillion budget plan today with stimulus spending and tax increases for the wealthiest Americans, spelling out election-year priorities that drew immediate Republican opposition.
Obama is proposing more money for jobs, highways and bridges, schools, student aid and manufacturing research as well as higher taxes for corporations, banks and oil, natural gas and coal companies, even as the nation’s debt grows faster than the administration predicted in September.