Obama: Budget closes tax loopholes

US President Barack Obama comments on the situation in Ukraine following a tour of a classroom at Powell Elementary School for an event on the Fiscal Year 2015 budget in Washington, DC, March 4, 2014. Obama said Tuesday that President Vladimir Putin's rationale for his incursion into Crimea was not "fooling anybody" and said Russian "meddling" would push states away from Moscow.AFP PHOTO / Saul LOEB        (Photo credit should read SAUL LOEB/AFP/Getty Images)
US President Barack Obama comments on the situation in Ukraine following a tour of a classroom at Powell Elementary School for an event on the Fiscal Year 2015 budget in Washington, DC, March 4, 2014. Obama said Tuesday that President Vladimir Putin's rationale for his incursion into Crimea was not "fooling anybody" and said Russian "meddling" would push states away from Moscow.AFP PHOTO / Saul LOEB        (Photo credit should read SAUL LOEB/AFP/Getty Images)

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    Obama: Budget closes tax loopholes

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President Obama outlines the principles he focused on while developing the budget for for fiscal year 2015.