1:06pm: President Barack Obama is sending Congress a new budget that seeks to achieve $4 trillion in deficit reduction over the next decade through cuts in government spending and higher taxes on the wealthy. At the same time, he wants to boost spending in key areas such as transportation and education. The spending blueprint is certain to spark an election-year battle with Republicans, who are vowing to oppose Obama’s tax hikes. We’ll talk about the budget this hour.
1:12pm: Rick Santorum is defending his views on working women. Contraception remains a political hot potato for President Obama and for Mitt Romney. Ron Paul is claiming he might win in Maine. And Newt Gingrich has been largely out of sight, fundraising in California. We’ll have the latest developments from the primary trail.
1:35pm: As lawmakers approved new austerity measures yesterday, more than 100,000 Greeks came out to protest. At least 45 buildings were burned and dozens of stores were looted. Among the measures the citizens were protesting: one in five civil service jobs will be cut; the minimum wage will be cut by a fifth. Investors liked the legislation and the stock market in Athens went up 5%. We’ll talk to Bloomberg News reporter Tom Stoukas about what’s going on in Greece now.