Obama to Explain $4 Trillion Budget for Fiscal 2016

President Barack Obama will lay out the details later today of a nearly $4 trillion fiscal 2016 budget, which would run a $474 billion deficit, senior administration officials said Sunday on a conference call previewing the document. The budget is aimed at improving the nation’s infrastructure and boosting middle-class Americans, but at a cost of tax increases and spending above caps set in a bipartisan deficit-reduction agreement, the Wall Street Journal reports.