President Barack Obama unveiled the fiscal year 2012 budget on February 12, 2011. The total budget is $3.73 billion in spending. The budget deficit which accompanies the budget is $1.1 trillion. The 2011 fiscal year will see a $1.65 trillion deficit.
The 212 page long budget proposal includes:
- A message from the President.
- The Obama administration's shift from the policies to "rescue" the economy when the financial crisis which began in 2007 to the "rebuilding" necessary to get the economy going again.
- The President's view that for the U.S. to compete globally and win, investments need to be made in areas of education, infrastructure, and "innovation" such as spending for scientific research and development.
- A breakdown of the proposed budget for various agencies under the President's control, such as the 16 departments, which include the Defense Department, Treasury dEpartment, Homeland Security Department and others.
- Other agencies include NASA, the Small Business Administration, the Environmental Protection Agency and Social Security Administration.