White House to roll out $3.8 trillion budget plan
February 1, 2010 1:28 a.m. EST
Washington (CNN) — President Obama will take the wraps off his $3.8 trillion budget plan for fiscal 2011 at a White House ceremony Monday.
The spending package comes as the administration struggles to strike a balance between fiscal restraint and job creation in an economy that has struggled to rebound from recession.
The federal deficit in 2009 grew by about $1.6 trillion, pushing the nation’s total debt to $12 trillion.
During last week’s State of the Union address, Obama proposed freezing all nonsecurity federal discretionary spending for three years in an effort to save $250 billion.
Nonsecurity discretionary spending refers to an array of domestic programs — everything from agriculture to energy. The freeze would not apply to Social Security, Medicare, Medicaid or other entitlement programs.
The president is scheduled to highlight his budget priorities at a 10:45 a.m. appearance in the White House Grand Foyer.
Presidential Press Secretary Robert Gibbs will fill in some of the blanks at an afternoon briefing with reporters.
Last year’s $3.5 trillion budget passed on a party-line vote.
The government’s fiscal year runs from October of one year through September of the next.
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