washingtonpost.com
----------------------------------------


Breaking News Alert: Obama unveils plan to reduce borrowing by $4 trillion over the next 12 years

April 13, 2011 1:53:08 PM

----------------------------------------
President Obama unveiled a framework Wednesday to reduce borrowing over the next 12 years by $4 trillion — a goal that falls short of targets set by his deficit commission and House Republicans — and called for a new congressional commission to help develop a plan to get there.

In his most ambitious effort to claim the mantle of deficit cutter, Obama proposed sharp new cuts to domestic and military spending, and an overhaul of the tax code that would raise fresh revenue. But he steered clear of fundamental changes to Medicare, Medicaid and Social Security — the primary drivers of future spending.

http://link.email.washingtonpost.com/r/O914NF/0GVCJ1/AX98SG/Q7QLLB/9PHQA/T3/h
For more information, visit washingtonpost.com
----------------------------------------
Get closer to the story. Download The Washington Post app for iPad.
http://itunes.com/app/thewashingtonpostforipad
----------------------------------------
Get breaking news alerts sent to your mobile phone. Sign up by texting NEWS to 98999.