By Roger Runningen and Brian Faler
Feb. 26 (Bloomberg) -- President Barack Obama’s first budget request would provide for as much as $750 billion in new aid to the financial industry, as well as for an overhaul of the U.S. health-care system and a program to cut carbon-dioxide emissions.
The spending blueprint, being sent to Congress today, anticipates the government will run a deficit totaling $1.75 trillion in the year ending Sept. 30, equivalent to about 12 percent of the nation’s gross domestic product. Obama has promised to cut the shortfall -- the biggest since World War II -- in half by the end of his first term.
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