President Barack Obama will release his budget blueprint for the 2014 fiscal year on Wednesday, but in his weekly address this weekend he outlined his plan ahead of the release. He said his proposal would reduce the deficit in a balanced way that not only cut spending, but also tackled entitlement reform, tax reform and made investments in education, infrastructure and research. Initial reports of what will be in his budget have been criticized from the left for cutting Social Security and Medicare and from the right for increasing taxes on the wealthiest Americans.
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