Obama Budget Proposes Nearly 50% Increase in Transport Spending

The White House's $476 billion, six-year transport plan plows hundreds of billions in war savings into new domestic investments

The White House began rolling out its election-year budget Friday evening, even as top Senate and House negotiators mounted a new push to get some resolution of President Barack Obama’s signature payroll tax holiday.

Monday is the formal release of the budget, but early documents admit to larger-than-expected deficits on the horizon -- $1.33 trillion in 2012 and $901 billion in 2013. At the same time, Obama has clearly opted to plow hundreds of billions in war savings back into new domestic investments, including a nearly 50 percent increase in transportation spending over six years.

(More on Obama's transport budget . . . )