Reuters File photo: US President Barack Obama tucks the folio holding the Bipartisan Budget Act of 2015 under his arm after signing it into law in the Oval Office at the White House in Washington, November 2, 2015.President Obama's eighth and final $4 trillion-plus budget proposal will be sent to a Republican-controlled Congress on Tuesday.
Here's some highlights:
- Cut deficits by $2.9 trillion over 10 years [primarily by way of reforms in health programs, tax code, and immigration]
- Bring deficit to $503 billion in fiscal 2017 [lower than the $616 billion budget gap in the current fiscal year which ends on Sept. 30]
- Accelerate progress of preventing and treating cancer with an added $755 million
- Direct $19 billion for US cyber security
- Direct another $7.5 billion towards Operation Inherent Resolve the name of the Combined Joint Task Force's mission to eliminate the Islamic State (aka ISIS, ISIL, and Daesh)