Obama to lay out debt reduction plan

Townhall.com Staff
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Posted: Sep 16, 2011 10:46 AM
Obama to lay out debt reduction plan

NEW YORK (CNNMoney) -- President Obama's debt reduction plan is set to land Monday in the laps of the 12 members of the Congress' bipartisan debt committee.

In recent weeks the president has said his plan would offer specific proposals that can achieve savings "more ambitious" than the committee's $1.5 trillion target. He said it would be "balanced," involving both spending cuts and tax increases. And he promised it would "stabilize debt in the long run."