Obama to Propose Adding $6 Trillion in Debt

WASHINGTON — President Obama will propose a 10-year budget on Monday that stabilizes the federal deficit but does not seek balance, instead focusing on policies to address income inequality as he adds nearly $6 trillion to the debt. 

The budget — $4 trillion in fiscal 2016 — would hit corporations that park profits overseas, raise taxes on the richest of the rich and increase the incomes of the middle class through new spending and tax credits. Mr. Obama will challenge the Republican Congress to answer his emphasis on wage stagnation, according to congressional aides briefed on the details.

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