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President Obama’s Framework for $4 Trillion in Deficit Reduction

Summary: 
President Obama lays out his plan for a balanced approach to achieve $4 trillion in deficit reduction over twelve years, based on the values of shared responsibility and shared prosperity.

Read the transcript or watch the video of the President's remarks.

Today, President Obama gave a speech at the George Washington University and laid out his plan for a balanced approach to achieve $4 trillion in deficit reduction over twelve years, based on the values of shared responsibility and shared prosperity. The President’s approach borrows from the Bipartisan Fiscal Commission and builds on $1 trillion in deficit reductions in the President’s 2012 budget. 

President Obama's approach falls into four main areas, which are summed up in the graphic below: