US President Barack Obama is expected to propose a budget of US$3.606 trillion for fiscal year 2010 on Thursday in an attempt to pull the US economy out of a recession.

In his first budget blueprint to Congress, the president expects that the costs of the Iraq and Afghanistan wars will total just over US$140 billion this year. The costs for the two wars will decline to US$130 billion in the 2010 fiscal year.

Annual costs for the war will drop sharply after that, to US$50 billion annually beginning in 2011, the budget will show.

He also requested as much as US$634 billion for health care reforms over the next 10 years.

Obama also has asked for an additional US$250 billion to be set aside if needed to bail out the US financial system.

(Xinhua News Agency February 27, 2009)