Obama admin. to propose 3.8 tln budget blueprint for 2011

The Obama Administration will propose a 3 point 8 trillion dollar budget blueprint for the 2011 fiscal year to Congress on Monday.

Insiders say through the proposal, the President wants to ensure investors that his administration can control the rising US deficit and reduce high unemployment.

The new budget is expected to repeat many of the themes of the 2010 budget which stood at 3 point 5 trillion dollars. But the administration is proposing a 3-year freeze on spending for a wide range of domestic government agencies.

U.S. President Barack Obama speaks during a visit to Lorain County Community College in Elyria, Ohio January 22, 2010. REUTERS/Kevin Lamarque/Files