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Obama unveils record $4.1 trillion election-year budget

President Barack Obama on Tuesday unveiled a record $4.1 trillion, election-year budget that finances Democratic priorities like education, health care and climate change with new taxes on crude oil, the wealthy and big banks.

The progressive wish list, which comes as the nation's long-term fiscal outlook is deteriorating, underscores the initiatives pushed by Democratic candidates, Hillary Clinton and Bernie Sanders, who hope to succeed Obama. Republicans dismissed the proposal as a tax-and-spend exercise.

Obama called the budget — his eighth and final one — "a roadmap to a future that embodies America's values and aspirations: a future of opportunity and...