Obama to offer $3.7 trillion budget blueprint

"President Obama will roll out a $3.7 trillion budget blueprint Monday that would trim or terminate more than 200 federal programs next year and make key investments in education, transportation and research in a bid to boost the nation's economy and reduce record budget deficits.

Senior administration officials cast the document as a responsible alternative to the deep spending cuts that Republicans will urge in a vote this week on the House floor. Obama's plan would reduce deficits by more than $1.1 trillion over the next decade, the officials said, with two-thirds of the money coming from spending cuts that would strike hard at programs that Democrats have long favored.

However, the president also will call for targeted investments that would increase funding for energy and medical research, expand the tax credit for corporate research and development, pay to train 100,000 new science and math teachers, and fund a wireless network that would bring high-speed Internet access to 98 percent of Americans."

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