Highlights of the budget that President Obama sent to Congress on Monday:

Spending

Obama proposes spending $3.8 trillion for the 2013 budget year, which begins Oct. 1, a slight 0.2 percent rise from expected spending for the current fiscal year.

Deficits

Obama’s budget projects that the deficit for the current year will total $1.33 trillion, the fourth straight year of deficits over $1 trillion.

Taxes

The budget would raise $1.5 trillion in new taxes over the next decade, mainly by letting Bush-era tax cuts expire at the end of this year on families making more than $250,000 a year. Obama also recycled a past proposal to limit the deductions wealthy taxpayers can claim and certain tax breaks for corporations, including oil and gas companies.

Job Growth

Obama is seeking more than $350 billion in measures to boost economic growth and job creation in the short term, including $50 billion in upfront investments for transportation projects, $30 billion to modernize at least 35,000 schools and $30 billion to help states hire teachers, police and first responders.

Education

The budget seeks $850 billion for the administration’s “Race to the Top” competition to provide grants to schools undertaking approved reforms and $8 billion to support efforts by community colleges to train 2 million workers in high-growth industries.

Military

The Pentagon’s overall spending would drop in 2013 as the military begins an effort to save about $260 billion over the next five years, in part by slashing the number of troops, ending the wars in Iraq and Afghanistan and making limited reductions in weapons systems.

Health Care

The administration seeks to slow the growth in Medicare and Medicaid by about $360 billion over the next decade, but the Obama budget avoids the radical overhaul that House Republicans are pushing.