[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/POLITICS/03/19/geithner.qanda/art.geithnerobama.gi.jpg caption="The Obama administration revealed a $3.8 trillion budget for 2011 on Monday. To his left, Treasury Secretary Tim Geithner."]
CNN Money Senior writer
President Obama revealed a $3.8 trillion budget for 2011 on Monday that tries to balance two competing goals: continued government spending to boost the fragile economic recovery and controlling the nation's deficit.
"We simply cannot continue to spend as if deficts don't have consequences, as if waste doesn't matter," Obama said at a White House presentation. "It's time to save what we can, spend what we must and live within our means once again."
The budget calls for $53 billion in tax cuts and $50 billion job-creating measures, including small-business tax cuts, as well as new investments in green technology and infrastructure programs for work on roads and bridges.
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