President Obama: Defense And Entitlement Programs Dominate U.S. Spending

Fresh off brokering a spending cut deal last weekend that narrowly prevented a government shutdown, President Obama counters the GOP’s 2012 budget plan on Wednesday by proposing a series of spending cuts, tax increases and entitlement reforms that would reduce the nation’s deficit by $4 trillion over the next 12 years.

Obama noted that Defense and entitlement programs dominate U.S. spending. (0:16)

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