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US President Barack Obama speaks on the economy in the Brady Briefing Room of the White House on February 5, 2016 in Washington, DC.
The US unemployment rate eased to an eight-year low of 4.9 percent but hiring slowed in January, fresh evidence of the US economy hitting a soft patch. / AFP / Mandel Ngan        (Photo credit should read MANDEL NGAN/AFP/Getty Images)
US President Barack Obama speaks on the economy in the Brady Briefing Room of the White House on February 5, 2016 in Washington, DC.
The US unemployment rate eased to an eight-year low of 4.9 percent but hiring slowed in January, fresh evidence of the US economy hitting a soft patch. / AFP / Mandel Ngan        (Photo credit should read MANDEL NGAN/AFP/Getty Images)

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CNN's Jake Tapper reports.

Obama budget raises deficit $500 billion

CNN's Jake Tapper reports.