President Obama's New Budget

Today President Obama released his fiscal year 2013 budget proposal, which includes $3.67 trillion in new budget authority, a 3.7 percent reduction from 2012 levels. The budget estimates $3.8 trillion in total spending in 2013, which includes some spending that was authorized in the 2012 budget.

The new budget includes $350 billion for job creation. A survey conducted on Feb. 9 found that Americans ranked job creation as their top priority for the president’s new budget, followed by deficit reduction.

Thirty-one percent of the president’s budget funds discretionary spending, which includes the military as well as domestic programs for things like education and energy. More than half of the new budget—62 percent—funds mandatory spending, which includes earned-benefit programs like Social Security and Medicare. Those two programs are overwhelmingly popular among the American public. A Sept. 2011 Reuters poll found that more than 70 percent of Americans oppose cuts to those programs.

Read the three-page publication here—it's got the top five things to know about the president's budget.

And in the coming days and weeks check back at for more detailed analysis of the new budget, plus a whole new website.