Banks to Get $250B More in Obama Budget

By Martin Crutsinger

WASHINGTON -- President Barack Obama is sending Congress a budget that anticipates the need for spending billions of dollars more on bailing out banks this year.

A senior administration official tells The Associated Press that Obama's first budget includes a provision providing $250 billion -- if it is needed -- to prop up troubled banks and other businesses.

That would be on top of the $700 billion Congress has already approved for dealing with the nation's worst financial crisis in seven decades.