President Barack Obama talks about the American Jobs Act and makes specific recommendations on spending reductions in agriculture subsidies, changes to Federal retirement programs and ending the wars in Iraq and Afghanistan. He recounts the causes of the deficit and suggests that the government must raise additional revenue as well as cut spending. Obama also declares a solution cannot depend solely on cuts, challenges Speaker of the House John Boehner to work with him, calls for the elimination of tax breaks and loopholes, reforming the tax code to reduce giveaways to special interests, and says he will reject any plan that puts the entire burden for solving the deficit on the backs of average Americans. The President speaks from the White House Rose Garden.
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