Framework for Deficit Reduction

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: