Obama's 2013 spending proposal is expected to go nowhere in a divided Congress and is widely seen as more of a campaign document that frames his economic pitch to voters and seeks to shift the focus from deficits to economic growth.
It fleshed out a major theme of his re-election campaign - "economic fairness." He wants wealthier Americans to bear more of the burden of slashing a federal deficit that was a trillion plus dollars for a fourth year in a row.
The budget proposal is a "reflection of shared responsibilities," the Democratic president said at a campaign-style event in Annandale, Virginia, referring to his call for a minimum 30 percent tax on millionaires.
In one of his best opportunities before the November 6 election to convince voters that he deserves a second term, Obama called for more than $800 billion for job creation and infrastructure investment, including billions of dollars for roads, railways and schools.
He also set aside money to hire more teachers, police and firefighters and invest in manufacturing, while extending tax breaks to spur hiring.
"At a time when our economy is growing and creating jobs at a faster clip, we've got to do everything in our power to keep this recovery on track," Obama said.
He casts his Republican rivals as the party for the rich while Republicans want to paint Obama as a tax-and-spend liberal.
The budget projects deficits remaining high this year and next before starting to decline, meaning more borrowing that will add well over $7 trillion to the national debt over the next decade. » | Alister Bull and Laura Macinnis | WASHINGTON | Monday, February 13, 2012
