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In this photo released by CBS News White house Chief of Staff Jacob Lew talks on CBS's Face the Nation in Washington Sunday, Feb. 12, 2012. Lew, who appeared on various Sunday shows, said the new budget would put the country on track to achieve $4 trillion in deficit reductions over the next 10 years, achieved by raising taxes on the wealthy and trimming government spending. The president's budget would cut spending by $2.50 for every $1 it raises in new taxes. "In the long run, we need to get the deficit under control in a way that builds the economy," he said. "We do it in a way that's consistent with American values so that everyone pays a fair share." (AP Photo/CBS News, Chris Usher)

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Obama's budget headed to Congress

WASHINGTON (AP) President Barack Obama is sending Congress a new budget that seeks to achieve $4 trillion in deficit reduction over the next decade through cuts in government spending and higher taxes on the wealthy. At the same time, he wants to boost spending in key areas such as transportation


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