Obama's 2011 Budget: Targeted Stimulus Focused on Jobs

As part of the $3.8 trillion budget President Barack Obama submitted to Congress Monday, he proposed about $100 billion in spending to address the nation's immediate problems of unemployment and economic weakness. The funds will go to tax cuts for small businesses, more spending on social safety net programs, and increased aid to state and local governments, as well as investments in clean energy and infrastructure.

In the longer term, Obama will be looking to a bipartisan task force of lawmakers and budget experts to draft a comprehensive deficit-reduction plan -- a package of tax hikes and spending cuts that would slash the deficit and stabilize government borrowing by 2015.


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