Barack Obama
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Obama publishes US budget plan for 2013

13 February 2012 Last updated at 08:05 GMT

President Obama will project a deficit of $901bn, when he sends his budget for 2013 to Congress.

The document is effectively his wish list for the year ahead, since Congress does not have to act on it.

But as the election approaches, it acts as an outline for Obama's vision of what the government's role in the economy should be, and how US taxes should change.

Michelle Fleury reports from New York.