President Barack Obama outlined his vision for cutting $4.4 trillion from the national deficit over the next 10 years in a Rose Garden speech today, laying the groundwork for this fall’s debate on spending and tax reform.
Obama called on Congress yet again to pass his $447 billion jobs plan and said he believes that by recommending ways to pay for the legislation, as well as ways to reduce the deficit long term, he is providing lawmakers with a bill they can pass “right away.” However, Members of Congress in both parties have suggested approving the plan en masse would be nearly impossible.