Belfast Telegraph

Obama budget targets America's wealthiest

President Barack Obama's next budget will hit America's wealthy with higher taxes to help cut $4trn from the country's deficit over the next 10 years.

His $3.8trn dollar election-year budget - as much a political document as spending plan - sets him apart from Republicans opposed to higher taxes.

Mr Obama rejected Republican charges of class warfare. "This is about the nation's welfare," he said.