Obama to Address Deficit in State of Union

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President Barack Obama will use his State of the Union speech to address America's skyrocketing national debt.

His advisers are combing through the controversial recommendations of the president's deficit commission, but they're not hinting which ones he might support.

The commission recommended:

  • Spending cuts and freezes.
  • Cuts in entitlement benefits.
  • Some tax increases.
  • Eventually raising the Social Security retirement age.

"As soon as the new Congress is sworn in, we're going to have to have a conversation about how do we start balancing our budget, or at least getting to a point that's sustainable when it comes to our deficit and our debt," Obama told a news conference before he began his Christmas vacation.

The president will deliver his State of the Union address in late January.

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