Obama:I Promise to Cut the Deficit in Half By 2013

According to the AP, President Obama just promised to cut the US deficit in half as a percentage of GDP by 2013.

This is consistent with Obama's prior budget projections, and it would certainly be a start. Of course, it won't make a dent in the long-term problem.)

So can we get Congress to commit to that?

If so, we'd be a lot more supportive of additional near-term stimulus spending (which, otherwise, we think will just become long-term structural overspending).

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source: businessinsider