OBAMA 2016 BUDGET PROPOSES 7% SPENDING INCREASE OVER CAPS

WASHINGTON (TIP): US President Barack Obama’s fiscal 2016 budget proposes a roughly 7% increase in spending over mandatory levels set in spending caps known as “sequestration,” a White House official said on January 29.

 

The budget proposes $530 billion in non-defense discretionary spending, which is $37 billion above the caps, and $561 billion in defense outlays, which is $38 billion above the limits, the official said.

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