The Deficit Problem: Too Big To Solve, Too Important To Fail
Investors found little significance in President Obama’s speech on deficit reduction on Wednesday, which proposed to reduce the deficits by $4 trillion over 12 years, with a program that is three quarters spending cuts and one quarter tax increases.
Steve Rosenbush
December 17, 2025
U.S. President Barack Obama speaks at George Washington University in Washington, D.C., U.S., on Wednesday, April 13, 2011. Obama vowed to cut $4 trillion in cumulative deficits within 12 years through a combination spending cuts and tax increases, setting the stage for a fight with congressional Republicans over the nation's priorities. Photographer: Mark Wilson/Pool via Bloomberg *** Local Caption *** Barack Obama
Mark Wilson/Via Bloomberg
