US president Barack Obama will release his first budget proposal on February 26th, a White House official said today.
The administration will release an outline of the budget for the 2010 fiscal year. A more detailed version will be released later in the year.
The release of the budget blueprint will put a spotlight on soaring budget deficits. Private economists expect the deficit to reach $1.5 trillion or more this year, boosted by the $787 billion two-year economic stimulus that Mr Obama is expected to sign into law today.
Reuters
