President Obama unveils the multi-trillion dollar budget blueprint for the 2011 fiscal year today.The proposal includes billions for jobs creation..new taxes and spending freezes at a price tag of 3-point-8 trillion dollars.The budget boosts the deficit to an all time record level.Fox news correspondent Craig Boswell reports from Washington.The budget blueprint arrives on capitol hill today , the first step of a long congressional approval process.president Obama says the 3-point-8 trillion dollar proposal includes billions to battle double digit unemployment.OBAMA says: "The budget includes new tax cuts for people who invest in small businesses, tax credits for businesses who hire new workers, investments that will create jobs repairing roads and bridges and tax breaks for retrofitting homes to save energy."Also included, 1.4 trillion in new taxes over the next decade..slashes hundreds of programs and increases the deficit to a record 1.6 trillion dollars.the president says a 3 - year freeze on some domestic spending is one of the things we can do right now to help eventually reduce the red ink.OBAMA says: "It's time to save what we can, spend what we must and live within our means once again."Republicans say the partial spending freeze is far short of what's necessary to offset an exploding deficit .SESSIONS says: "He has all of this new spending a 170 billion dollar jobs package as i see it and every penny of that will go to the debt a stimulus two they call it."Some analysts say the time for a second stimulus package has passed and as for cutting the deficit.FRENZEL says: "You cannot do it by cutting spending alone nor can you do it by raising taxes alone there would have to be some kind of combination."Senate hearings on the President's budget blueprint begin tomorrow. The 2011 fiscal year begins October 1st. In Washington Craig Boswell FOX News."