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Obama Tackles Deficit

President Obama's budget outline is set to drop on Thursday, but already aspects of the plan are making the rounds in the press. The New York Times reports the budget will include plans to halve the annual deficit over the next four years by raising taxes on the wealthiest Americans, reinstating the estate tax, and reducing spending in Iraq. The budget is also a key signal to how far Obama plans to push his health care agenda, which many observers have said could fall by the wayside amid distractions in the broader economy, and White House officials said that reducing the number of uninsured will be a top priority in Thursday's outline. “The president believes there are essentially three areas that have to move forward even as we pare back elsewhere—health care, energy and education,” Obama adviser David Axelrod told The Times.