President Barack Obama released the 2012 fiscal budget proposal on Monday, February 14th. The president’s proposed budget includes $600,000 in “preconstruction” funds for deepening the harbor in Savannah. Several state leaders were disappointed since the project requires $105 million in federal help this year. The total cost is expected to be about $551 million. Deepening the harbor will allow Savannah to compete with other Atlantic ports when bigger ships begin passing through the Panama Canal in 2015. The harbor deepening is considered to be the biggest and most important economic development project in Georgia right now. Senator Chambliss, Senator Isakson and other federal and state leaders in Georgia will continue to seek funding from the president.