U.S. Senate Dems propose budget

The Senate Democratic Caucus unveiled a plan yesterday that would provide $35 billion for a second round of government spending aimed at stimulating a weak economy. The proposed budget focuses on domestic priorities such as education, energy and transportation and cuts back on war funding.

The spending would push the federal deficit to more than $350 billion in the next fiscal year, although some caucus members state that the proposal would erase the deficit within four years, producing a $160 billion surplus in 2013. This would only be the case if all of President Bush's first-term tax cuts expire as scheduled in 2010. Both Democratic presidential candidates have promised to extend the most popular tax measures. Here's more from the Wall Street Journal.