President Obama's proposed 2013 budget will forecast a $901 billion deficit for next year, falling far short of his goal to halve the deficit in four years.

The budget, an outline of which was released by the White House Friday night, will show a higher deficit this year than in 2011, up from $1.3 trillion to $1.33 trillion.

In addition, the projected decline to $901 billion in 2013 is dependent on enactment of the president's policies, including spending reductions agreed to last summer and ending George W. Bush's tax cuts for the wealthy at the end of this year.

For weeks, White House officials have said the budget would make little news because many of its elements were well known:

• About $1 trillion in spending cuts agreed to with Congress and signed into law in August
• Obama's goal of slashing another $3 trillion from annual deficits over 10 years, including about $1.2 trillion mandated by the August agreement

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