Obama takes new budget to Capitol Hill

by Seth Graham and Ben Tan

Up yours, not spending!
President Barack Obama makes his way to Capitol Hill as House and Senate committees begin work on a budget for the coming fiscal year.

Amid a growing deficit, the budget tops $3.6 trillion. House Minority Leader John Boehner believes the president's plan takes the country down the wrong path. "The president's budget spends too much, taxes too much, and it borrows too much," Boehner said. "It raises taxes on every American family and small business," he added.

Both the House and Senate plan to slash his proposed 11 percent increase in discretionary spending.