Politics & Government

February 14, 2011

Obama's budget will add $7 trillion to national debt

President Barack Obama will propose a federal budget for fiscal 2012 that would pare back record budget deficits, but still add nearly $7 trillion to the nation's debt over the next decade, White House officials said Sunday. That falls far short of the recommendations from his own bipartisan budget deficit commission, which in November urged cutting deficits over the coming decade by $4 trillion.

Related content