Obama: 'We're Taking A Scalpel To The Discretionary Budget, Not A Machete'

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For those who need it broken down further, the President, putting it in a way "Americans can understand," noted that "we won't be running up our credit card anymore." As for the question of why the deficit wasn't fixed yesterday, Obama told a reporter, "Let's face it, you guys are pretty impatient. If something does not happen today, the assumption that it isn't going to happen."

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