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The President's 2013 Budget: Focus on Jobs and a Balanced Approach to Deficit Reduction

Feb 13, 2012

Today President Obama has sent Congress a budget for fiscal year 2013 that includes short-term initiatives to spur immediate job growth, pursues a balanced approach to deficit reduction in the medium-term, and makes investments to make the country stronger in the long-term.  The budget exceeds the deficit reduction targets established in the Budget Control Act of 2011, consistently lowering the deficit as a share of the economy and stabilizing the debt as a percentage of the economy.  The President reaches the targets not through an automatic sequester of spending, but instead with policy choices that balance the need to make wise investments to spur job growth and provide security for the middle-class with the need to put the budget on a fiscally sustainable path.

Click here to view a PDF version of the full report