Photo: #President Barack Obama holds up his proposed American Jobs Act legislation while making a statement in the Rose Garden of the White House in Washington, Monday, Sept., 12, 2011.

A new plan to cut the debt


President Barack Obama is announcing a bold plan to cut the deficit by $3 trillion over the next decade. Does the plan have a chance to pass the Republican-controlled House? Or does it signal the president's political strategy for re-election?

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