Bodog Beat

Barack Obama's budget was just released. (AP Images)

President Barack Obama is asking for congress to set aside $634 billion over 10 years for health care. Obama's unveiled a multi-trillion-dollar spending plan today that will boost taxes on the wealthy and lay the groundwork for universal health care.

"President Barack Obama is asking Congress to raise taxes on the wealthy and cut Medicare costs to provide health care for the uninsured while making the just-enacted $400 tax cut for most workers permanent. In his first budget blueprint, Obama proposes setting aside $634 billion over the next decade to expand government subsidized health coverage — a little more than half the money needed to ensure that every American gets medical care."

In the morning breifing Obama noted there were, "hard choices that lie ahead." He called his budget "an honest accounting of where we are and where we intend to go."

Obama's budget is projecting to cut $2 trillion from the deficit over the next decade.