Obama Sends Congress A $4.1 Trillion 2017 Spending Plan

That is a record amount of spending.

Fox News/AP

President Obama sent Congress on Tuesday his eighth and final budget, proposing to spend a record $4.1 trillion on a number of initiatives. They include launching a new war on cancer, combating global warming and fighting growing threats from ISIS terrorists.

The new spending plan, for the budget year that begins Oct. 1 -- just 3 1/2 months before he leaves office -- is facing heavy fire from Republicans who hope to capture the White House. The proposal had dim prospects of winning approval in a Republican-controlled Congress.

In all, Obama's budget would increase taxes by $2.6 trillion over the coming decade, nearly double the $1.4 trillion in new taxes Obama sought and failed to achieve in last year's budget

Obama promised to cut waste, fraud & abuse, and said he'd go through the federal budget line-by-line

Obama: When I'm president, I'll be 'cutting' more than I'm spending