President Barack Obama and Vice President Joe Biden speak at the Federal Fiscal Responsibility Summit along with several economists. The group discusses the long term fiscal situation and what can be done to the budget to protect health care. President Obama describes what his administration has down in its first month in place, including the housing and financial stability plans. Obama says that the needs of health care, education, and energy innovation can no longer be ignored even as the national deficit continues to raise. Obama pledges to cut the deficit in half by the end of his first term in office by creating a 10-year financial plan and assigning a overall budget management review of all federal government departments.
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