Obama Blasts GOP Proposals as Threat to the Elderly and Middle Class
President Obama outlined his own proposal for reducing the nation's deficit by $4 trillion over the next 12 years, calling it a "more balanced approach" than the one championed by Congressional Republicans, and emphasized that everything in the budget must be up for discussion. In a lengthy speech that included very few specific targeted cuts but many broad objectives, Obama said that in order to reach his deficit reduction goals, he would focus on four key areas: keeping domestic spending low; cuts to the Pentagon budget; health care savings in Medicare and Medicaid and taxes.
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