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    February 13, 2012

Obama Proposes $3.8 Trillion Budget

   VOA News
   President Barack Obama speaks about his 2013 budget and the 'Community
   College to Career Fund' at Northern Virginia Community College in
   Annandale, Virginia, February 13, 2012.
   Photo: AP
   President Barack Obama speaks about his 2013 budget and the 'Community
   College to Career Fund' at Northern Virginia Community College in
   Annandale, Virginia, February 13, 2012.

   U.S. President Barack Obama is proposing higher taxes on the wealthy
   and corporations, along with cuts in many government programs as he
   submits his 2013 federal budget to Congress.
   Mr. Obama spoke at a community college near Washington, highlighting
   his push to boost funding for the education needed to help students get
   technical skills needed to land good jobs.

                                                 Obama Budget Plan Factbox
     * $525.4 billion in discretionary funding for Defense Department
       budget - $5.1 billion below 2012 enacted level.

     * $76.4 billion for Health and Human Services Department - $300
       million more than 2012 funding level.

     * $51.6 billion in discretionary funding for State Department and
       USAID, an increase of 1.6 percent.
     * $720 million is allocated for the Broadcasting Board of Governors,
       which oversees the Voice of America - a decrease of $27 million
       from 2012 estimates.

     * $39.5 billion for Homeland Security Department, a decrease of 0.5
       percent, or $191 million below 2012 enacted level.

   He says the $3.8-trillion spending plan is aimed at stimulating the
   economy in the short term and cutting the federal deficit by around $4
   trillion during the next decade. He proposes raising taxes on
   corporations and wealthy Americans by about $1.5 trillion during the
   next 10 years, and trimming government spending. The proposal would
   leave a $1.3 trillion deficit next year.

   The budget covers the 2013 fiscal year that begins in October, just a
   month before U.S. presidential and congressional elections. Congress
   has to approve the budget before it can become law, and members of the
   opposition Republican Party are sharply critical of Mr. Obama's budget
   priorities.
   The top Republican on the Senate Budget Committee, Jeff Sessions, said
   the Obama proposal is full of "budget gimmicks" that overstate savings
   and understate costs. Republicans in the House of Representatives are
   preparing their own budget proposal.

   Some information for this report was provided by AP, and Reuters.

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