Click to play videoWashington: The US President sent his first annual budget to the US Congress calling it an honest accounting of where the nation intends to go.
“We need to be honest with ourselves about what costs are being racked up because that's how we come to grips with the hard choices that lie ahead and there are some hard choices that lie ahead,” says Obama.
Facing a number of economic challenges, President Barack Obama submitted to the US Congress on Friday his budget outline.
He admitted that his budget would continue to run a deficit, but said in the long run, he would balance it.
“We're going to go through our books, page by page, line by line, to eliminate waste and inefficiency,” he assures.
The blueprint also includes cost projections for the wars in Iraq and Afghanistan. But it will be up to the US Congress to agree on the details of the President's plan - a task some lawmakers have already found difficult to do.
This budget blueprint is just an outline, the complete plan will not be released until April.
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