Factbox: Obama’s Deficit Reduction Plan

Posted September 19th, 2011 at 11:55 am (UTC-5)
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President Barack Obama's more than $3 trillion deficit and debt reduction plan includes:

  • $1.5 trillion in additional revenue, from taxes on wealthy individuals and corporations

  • Most new tax revenue would come from Americans making more than $250,000 per year

  • More than $1 trillion savings from bringing troops home from Afghanistan and Iraq

  • Cutting more than $300 billion in programs that provide healthcare for the elderly and poor, called Medicare and Medicaid

  • $430 billion in savings from lower interest payments on the national debt
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