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Thursday, April 14, 2011

Obama Deficit Speech Revs Up Budget Battles, Jump Starts 2012 Campaigns

House Majority Leader Eric Cantor, R-Va., center, and other Republican House leaders react to President Obama's speech on a federal spending plan at the Capitol in Washington. At left is House Ways and Means Committee Chairman Dave Camp, R-Mich., with House Budget Committee Chairman Paul Ryan, R-Wis., right. (AP)

House Majority Leader Eric Cantor, R-Va., center at the Capitol in Washington. At left is House Ways and Means Committee Chairman Dave Camp, R-Mich., with House Budget Committee Chairman Paul Ryan, R-Wis., right. (AP)

With the 2012 Presidential and Congressional elections looming, both Republicans and Democrats are reacting strongly to President Obama’s speech yesterday on cutting the long-term deficit.

The president drew sharp contrasts between his proposals and the long-term budget plan written by Republican Congressman Paul Ryan of Wisconsin. We look at how the debate is shaping the consensus on the deficit in Washington, and the upcoming political season with Rick Klein, senior Washington editor for ABC World News, and host of the ABC News political webcast “Top Line.”


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