Proposed Budget Has $1.33T Deficit

    US President Barack Obama announces that religious employers will not be mandated to offer free contraceptive coverage for workers at the White House in Washington, DC, February 10, 2012.                 AFP PHOTO/Jim WATSON (Photo credit should read JIM WATSON/AFP/Getty Images)

    Jim Watson, AFP / Getty Images

    President Obama’s budget request, which he will send to Congress on Monday, will project a $1.33 trillion deficit and hundreds of billions for infrastructure, according to news sources that have seen drafts of the request. Some $350 billion for short-term job measures are built into the budget, as well as a $476 billion roads proposal, and $360 billion for health care. The budget also calls for an end to tax cuts that favor families whose annual incomes top $250,000. Ending these cuts would generate $1.5 trillion in new revenue, the administration says, but the taxes, like many other parts of the president’s proposed budget, have already been rejected by leading Republicans.

    Read it at The Washington Post