Obama creates plan to reduce deficit by $3.2 trillion

09/19/2011 | Forbes · Los Angeles Times (tiered subscription model)

President Barack Obama will propose a plan to cut the deficit by $3.2 trillion over 10 years, administration officials said. The plan relies on spending cuts and $1.5 trillion in taxes aimed at the rich. Obama will not seek reduced Social Security benefits or a higher Medicare eligibility age, aides said.

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Forbes · Los Angeles Times (tiered subscription model)

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