(WASHINGTON TIMES) -- President Obama’s budget request to Congress Monday will forecast a deficit of $1.33 trillion in the current fiscal year and calls for $1.5 trillion in tax increases over the next decade, senior administration officials said Friday night.
The spending plan for fiscal 2013 also anticipates a deficit of $901 billion next year and includes more than $350 billion in spending on short-term measures to create jobs.
Much of that spending is unfinished business from last year’s jobs bill that the president has been pushing, such as $30 billion for states to hire new teachers and first responders, and extending the payroll tax cut an unemployment benefits through the end of this year. As Mr. Obama seeks reelection this year, he is railing against congressional Republicans to approve more of his spending proposals to create jobs and stimulate the economy.
Advertisement - story continues below