President Barack Obama (Image via Wikimedia Commons)

The budget is focused on reforming early childhood education, job training, high-tech manufacturing, and urban redevelopment efforts with the goal of shrinking the widening gap between the rich and poor. 

The budget totals $3.91 trillion, and is supposed to reduce the government deficit to 1.6% within ten years. Obama defended the budget by saying that it was “not just about numbers, it’s about our values.”

The budget offers a peak into Obama’s vision for the country now that he is no longer burdened with reelection and the financial crisis. The plan builds on existing tax benefits rather than creating new tax breaks, expands tax credits available to low-income workers, and raises taxes on the wealthy. Republicans did not receive the proposal kindly, calling it a “disappointing, fantasy-based budget.” 

After presenting the budget, Obama addressed the developing conflict in Ukraine, just as Secretary of State John Kerry announced his $1 billion loan guarantee plan to aid the new anti-Russia leadership.  For a detailed explanation of the budget 

For a detailed explanation of the budget, see the Washington Post's infographic: Breaking Down Spending in Obama's Budget Proposal. 

Read more at USA Today, Politico, and the LA Times. 

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