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President Obama announces 2013 budget

In his State of the Union address last month, President Obama laid out a blueprint for an economy built to last, driven by American manufacturing, American energy, and American workers.

Today, he released a budget for fiscal year 2013 that illustrates how we turn that blueprint into a strong economy, and it stays true to the President's belief that we succeed when everyone gets a fair shot, everyone does their fair share, and everyone plays by the same rules.

Finding ways to put people back to work is the President's top priority, and he is proposing more than $350 billion to foster short-term job growth. That includes an extension of the middle-class $1,500 payroll tax cut (the one Mitt Romney derides as a "temporary little Band-Aid") and unemployment benefits for the rest of the year. The President is investing in clean energy, manufacturing, and infrastructure to boost our economy, rebuild our country, and create jobs: $30 billion will help modernize 35,000 American schools, and a $50 billion upfront investment for surface transportation will fix roads, rails, and runways—and create thousands of quality jobs quickly.

And because investment in education is a central component of strong economy, the President also announced a new $8 billion Community College to Career Fund that will train 2 million workers for good, high-paying jobs in high-growth and high-demand industries.

All of this falls within spending caps that will reduce our discretionary spending by $1 trillion over 10 years and reduce our deficit by more than $4 trillion.

For a detailed account of what's inside President Obama's 2013 budget, check out this post at whitehouse.gov.