FACTBOX: Facts and figures from Obama's 2010 U.S. budget

(Reuters) - President Barack Obama on Thursday filled in details of his U.S. budget plan for fiscal year 2010 that begins on October 1, announcing $17 billion in cuts to a budget that weighs in at around $3.5 trillion.

Here are some of the details of that budget that already has been reviewed by Congress, which has approved its own version that is similar to Obama's:

DEFICIT

Obama has forecast a budget deficit of $1.75 trillion in the current fiscal year 2009, but the Congressional Budget Office projected it would be higher, nearly $1.85 trillion.

That is equivalent to 12.3 percent of gross domestic product, making it the highest deficit as a share of the economy since World War Two.

The deficit totaled $455 billion in 2008, which was an all-time high in dollar terms.

Obama inherited a more than $1 trillion deficit when he took office in January. A two-year $787 billion economic stimulus package Obama pushed through Congress combined with potential added costs to address the turmoil in the U.S. banking sector contributed to the higher deficits.

The Obama administration's forecast for the 2009 deficit is roughly in line with those of many private economists.

Obama sets a goal in his budget of reducing the deficit to $533 billion, or 3 percent of GDP, by 2013.

TAXES

Obama proposes boosting tax collection to 19 percent of the economy in 2013 from about 16 percent this year.

Obama would allow some of the 2001 and 2003 tax cuts enacted under his predecessor, George W. Bush, to expire on schedule for those making more than $250,000 a year. That would include allowing the highest U.S. income tax bracket to rise to more than 39 percent from 35 percent.

The budget also assumes a tightening of enforcement of the tax code to crack down on people who use loopholes and other measures to avoid taxes.

SPENDING

Obama's budget assumes a decline in government spending to 22 percent of the economy in 2013 from about 26 percent.

U.S. officials said the savings would come from winding down the war in Iraq and finding efficiencies in government programs. Obama proposes wringing some savings out of the defense budget by reforming government procurement.