10 things you need to know today: January 30, 2015

(Image credit: Scott Olson/Getty Images)

1. Obama calls for ending automatic spending limits in new budget

President Obama is calling for a 7 percent increase in military and domestic spending in his new budget proposal, the White House said Thursday. The spending plan, to be unveiled Monday, calls for ending four-year-old congressionally mandated spending caps known as "sequestration" now that budget deficits have returned to pre-Great-Recession levels. Republicans criticized the plan, saying its mix of new taxes and an end to automatic spending cuts would do nothing to solve long-term budget problems.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.