Obama budget

WASHINGTON - President Barack Obama's new budget sets two goals that may be irreconcilable: a new round of spending and tax cuts to create desperately needed jobs, and deficit reduction to set the stage for a return to fiscal austerity.

WASHINGTON - President Barack Obama unveiled a multitrillion-dollar spending plan Monday, pledging an intensified effort to combat high unemployment and asking Congress to quickly approve new job-creation efforts that would boost the deficit to a record-breaking $1.56 trillion.