Event:
U.S. President Barack Obama proposes a $3.8 trillion budget for fiscal 2011 which projects a record-high budget deficit of $1.6 trillion in fiscal 2010
More Notable Events on February 1:
1994 Large meteorite falls near Kusaie, Pacific Ocean
1992 Barry Bonds signs baseball's highest single year contract - $4.7 mil
1981 French government accord sends 60 Mirage fighter jets to Iraq
1968 Vince Lombardi resigns as coach of Green Bay Packers
1809 Dutch King Louis Napoleon accepts metric system
