President Obama's 2013 Budget: 5 Things You Should Know

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U.S. President Barack Obama's 2013 budget proposal will give Republicans and Democrats plenty to fight about.

The $3.8 trillion budget proposal, submitted to Congress, essentially follows the blueprint President Obama outlined in his State of the Union address.

That means fewer spending cuts and more taxes than Republicans will like.

So if you thought last summer's wrangling over the raising of the debt ceiling was nasty, watch the rhetorical Armageddon when those battles get re-fought in an election year.

President Obama's 2013 budget sets much of the agenda for the stormy election season ahead. (You’ll be hearing a lot about Washington’s economic policies in coming months. What you won’t hear is the truth behind those policies. And that truth could destroy your retirement. Take a look at this new report for details.) These points will help you make sense of the chaos.

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